A prefeasibility study (PFS) into the Toliara mineral sands project, in Madagascar, has estimated that the project could produce some 37.1-million tonnes of heavy mineral concentrate over a life-of-mine of 33 years.
ASX-listed Base Resources told shareholders that the PFS envisaged a two-stage development option, with the Stage 1 operation estimated to cost $439-million to develop a 13-million tonne a year operation, while the Stage 2 operation would expand production to 19-million tonnes a year, for an additional cost of $67-million.