Investment adviser Appian Capital Advisory has announced a A$144-million investment into the Fingerboards mineral sands project, in Victoria.
Unlisted Kalbar Operations is hoping to extract some 170-million tonnes of ore, containing 8-million tonnes of heavy mineral concentrate over a mine life of 15 to 20 years, with a capital investment of some A$200-million required to fund the project.
The project has the potential to be one of the world’s largest producers of zircon, ilmenite, rutile and rare earths and will create up to 200 direct jobs.