A Saudi Arabian industrial company, in conjunction with Tiomin Resources (ME), plans to develop the Natashquan heavy mineral sands project, on the north shore of the Gulf of St. Lawrence.
Based on a processing rate of 23.6 million tonnes per year, the North Block area alone contains enough reserves to support mining for 46 years. Shairco, the Saudi partner, holds the sole licence for the manufacturing of synthetic rutile in Saudi Arabia.
The partners anticipate selling 500,000 tonnes of hot briquette iron and 100,000 tonnes of synthetic rutile per year. These products would be produced in Saudi Arabia and would generate annual revenue of about US$100 million. Other products to be derived from the separation of the heavy mineral sands include hematite concentrate (225,000 tonnes per year), zircon (8,000 tonnes per year) and garnet (up to 53,000 tonnes per year).
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