ASX Announcement 15 January 2014
Disposal of Teranga shareholding
Mineral Deposits Limited ("MDL") is pleased to advise that it has disposed of its shareholding in Teranga Gold Corporation
("TGZ") for proceeds of approximately US$20 million.
For further details please contact:
Rick Sharp, Managing Director
T: +61 3 9618 2500
E: [email protected]
About MDL
Mineral Deposits Limited (ASX: MDL) is an Australian based mining company in the business of finding, mining and processing mineral sands resources. MDL owns 50% of TiZir Limited which owns the world‐class Grande Côte Mineral Sands Project in Senegal, West Africa and an ilmenite upgrading facility in
Tyssedal, Norway.
Grande Côte, with construction nearing completion and production expected to commence in first quarter 2014, is anticipated to produce on average approximately 85ktpa of zircon and 575ktpa of ilmenite (and small amounts of rutile and leucoxene) when in full production over an expected mine life of at least 20 years.
The Tyssedal ilmenite upgrading facility smelts ilmenite to produce a high‐TiO2 titanium slag which is sold to pigment producers and a high purity pig iron which is sold as a valuable co‐product to ductile iron foundries. The facility currently produces approximately 200ktpa of titanium slag and 110ktpa of high‐purity pig iron.
Once Grande Côte reaches expected average production rates, TiZir will be producing approximately 7% of both global zircon and titanium feedstock supply.
Mineral Deposits Limited | ABN 19 064 377 420 | Level 17, 530 Collins Street, Melbourne, Victoria 3000, Australia
T:+61 3 9618 2500 | F: +61 3 9621 1460 | E: [email protected] | W: www.mineraldeposits.com.au