DEVELOPMENT
Development of the Pooncarie Project
Bemax’s core development program is focused on ensuring that the Company builds on and strengthens its position as a major Titanium feedstock producer while maintaining flexibility in production to enable the Company to meet changes in the market place and satisfy customers demands.
In 2006 Bemax became the largest producer of Leucoxene, the
sixth largest producer of Rutile and the seventh largest producer of Zircon
globally.
This strategy includes using multi purpose and capacity
infrastructure for developments, the use of which can be varied according to
requirements. For example, the key dredge and wet plant equipment selected for
the Ginkgo Mine can, with minor capital expenditure, be readily modified to
operate at rates significantly above those currently required. Similarly, the
upgrade undertaken at the Bunbury Mineral Separation Plant enables it to treat
an increased variety of feedstock in addition to feedstock from the Pooncarie
Project.
Bemax continues to implement and expand a well focused and well
funded exploration program to locate and define further deposits focusing on the
development synergies that will flow from existing infrastructure, including the
Bunbury Mineral Separation Plant and that established for the Pooncarie Project.
In parallel to the core development program, the Company
maintains a development program to evaluate value adding opportunities to
improve its product line to maximise the dollar value of the feedstock
resources.
Projects on the Company’s immediate development horizon are the
development of the Snapper Mine to complete the Pooncarie Project, and the
expansion of the Broken Hill Mineral Separation Plant. The next phase in the
Snapper Mine and MSP expansion development program will be to undertake detailed
scoping and design from which the budget and timetable will be set. Construction
and commissioning will occur over the 2008/2009 period. Development of the
Gwindinup Mine in Western Australia is also underway.
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