Hyperion's Titan project has received a supply memorandum of understanding. Picture: Jason and the Argonauts (1963), Columbia Pictures
Hyperion signed a non-binding agreement to supply Chemours with titanium raw materials, demonstrating the value of having a wealth of key mineral projects in the center of the United States.
According to the memorandum of understanding, the company can provide up to 50,000 tons of ilmenite, 10,000 tons of rutile and 10,000 tons of staurolite to one of the world's largest producers of high-quality titanium dioxide products for coatings, plastics and laminates. It is in the Titan project in western Tennessee.
Chemours has begun negotiations for an initial five-year supply agreement for an agreed market-based pricing method. The company operates a paint factory in New Johnsonville, approximately 30 kilometers from the Titan project.
Hyperion Metals (ASX:HYM) stated that the Memorandum of Understanding highlights the Titan project — a 11,000-acre mineral project that includes titanium, rare earth minerals and zircon — which has material logistics advantages over key minerals imported into the United States.
This includes the potential to significantly reduce carbon emissions in the mine-to-market supply chain. Compared with other major sources of supply (including Norway and Western Australia), the Titan project is approximately 9,000 kilometers to 20,000 kilometers away from Chemours.
"We are very pleased to work with Chemours, the world's largest producer of high-quality titanium dioxide products, which is a vertically integrated company that also operates the only large-scale heavy ore mine in the United States," said Managing Director Anastasios Arima.
"The combination of the high-quality key minerals of the Titan project with Chemours’ New Johnsonville business, which is one of the world’s largest pigment factories, provides an excellent opportunity to develop partnerships to develop a low-carbon domestic supply chain. Key U.S. Mineral raw materials."
The two companies will strive to implement the final supply agreement within 18 months of signing the MOU.
Titan is close to Camden Town and close to low-cost roads, rails and water logistics, connecting it with world-class manufacturing and customers.
Its current resources are 431 million tons, and heavy minerals account for 2.2% of the total heavy minerals, including 11.1% rutile, 9.5% rutile, 40.3% ilmenite, 2.1% rare earth elements and 14.8% cross Stone, making it one of the largest and most important key minerals in the United States.
The shallow, high-grade and loose nature of sandy mineralization makes simple mining operations possible, such as bulldozer push, followed by industry standard mineral processing procedures.
The recent rare earth concentrate flotation test work has determined that the total recovery rate of rare earth minerals is 97%, which shows that the successful flotation of rare earth minerals can be carried out as an initial processing stage, providing significant potential benefits for future mineral separation plant design.
This article was developed in collaboration with Hyperion Metals, the stockhead advertiser at the time of publication.
This article does not constitute financial product recommendations. Before making any financial decisions, you should consider obtaining independent advice.
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November 18, 2021
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