Mineral Commodities Ltd (ASX:MRC) is committed to enhancing both local economic prosperity and shareholder value through the development of world-class mineral resources.
Mineral Commodities is an expanding producer of zircon/rutile non-magnetic concentrate and ilmenite and garnet products from our Tormin resource on the Atlantic coast of South Africa. Our Tormin operation is one of the highest grade mineral sands deposit in the world by grade.
Our mining operations inherently maintain regularity compliance with an aim to minimise environmental impacts while simultaneously enhancing both the economic and social benefits in the local communities in which we operate. We are proud of the diversity in our global workforce of 300 employees, and the culture of safety and community we have fostered. Our team is committed to safe and sustainable business practices which bring value to its shareholders, customers, employees, and result in a social dividend to local South African communities.
The company’s operational focus remains firmly in sustainability and optimisation of its resources. This is achieved by a commitment to re-investment of capital, in continuous improvement in infrastructure, human resource development and enhancement of its resources by ongoing exploration.
Mineral Commodities has been operating in South Africa since 2002, and since then has gone on to successfully commission our first project, the high grade Tormin mineral sands project in the Western Cape of South Africa. Having reported a maiden profit of US$8.4m post tax for FY2014, it has recently reported a US$10.6m profit for FY 2015, the Tormin mineral sands project has made Mineral Commodities one of the few mineral sands companies globally,to be currently operating profitably as stated in a recent report by Mirabaud.
One of the reasons MRC has been so successful is the exceptional grade of the deposit as Tormin is one of, if not the, highest grade mineral sands deposits in the world. When production started the resource grade was 49.9% total heavy minerals, comprising 10.6% ilmenite, 3.4% zircon, 0.7% rutile and 25.3% garnet. The resource is unique due to the natural replenishment which occurs at the beach site and with MRC now having access to the remaining areas of the mining lease and having potential to process the offshore areas, the company has the confidence to commit significant capital to further plant optimisation and expansion as the Company considers there is significantly more mineralised material than reflected in the current resource.
MRC’s objective is to optimise shareholder value by successfully securing and developing mineral resources.
Mineral Commodities is committed and strives to be a responsible corporate citizen, uplifting and investing our achievements into the local communities around our areas of operation. As part of various Social and Labor Plans MRC has devised and is implementing strategies that focus on key aspects of health, education and infrastructure of the people most affected by the operations and, in particular, the upliftment of historically disadvantaged South Africans.
The Company is committed to conducting business within the spirit and letter of the laws of all jurisdictions we operate in. MRC has adopted a series of Corporate Governance policies pertaining to, among other things, the Board, Compliance, Remuneration, Securities Trading, Shareholder Communication and Code of Conduct. These policies can be made available upon request.
Mineral Commodities is committed to enhancing local economic prosperity whilst enhancing shareholder value through the development of world-class mineral resources.
Our mining operations inherently maintain regularity-compliance with an aim to minimise environmental impacts while simultaneously enhancing both the economic and social benefits in the local communities in which we operate.
Mineral Commodities Ltd (ASX:MRC) is a leading producer of high grade zircon, rutile, garnet and ilmenite concentrates, with its world-class heavy mineral sand exploration and operational project in South Africa.
In the first year of production (FY 2014), the Tormin operation produced 42,688t of zircon/rutile non-magnetic concentrate, 100,437t of ilmenite concentrate and 254,816t of garnet concentrate. In the second year of production (FY 2015), the Tormin operation produced 44,489t of zircon/rutile non-magnetic concentrate, 109,959t of ilmenite concentrate and 284,990t of garnet concentrate.
Mineral Commodities currently operate the Tormin project, a high grade beach deposit on the country’s Atlantic coast which commenced commercial production in January 2014.
The safety of the workforce is of paramount concern to the Board of the Company and we are proud of the diligence exercised by all employees at the Company’s operations. The Company is pleased to report that by March 2016, the safety record amounted to in excess of 1.3 million man hours without a lost time injury (LTI) since commencement of operations in October 2013.