Allup announced its acquisition of the advanced-stage McLaren Project earlier this month, which has an Indicated and Inferred JORC (2012) resource of 280Mt at 4.8% Heavy Mineral1 near surface. Allup is examining its potential to produce ilmenite, a key titanium mineral, which currently trades at more than US$300/t due to increasing titanium shortages. Strong ilmenite market demand expected to continue due to supply deficits and mine closures in Africa.
Whilst process optimisation of the McLaren plant will continue following the completion of test work, flow sheet development and basic engineering have already commenced. At this conceptual stage, the Company’s PFS is progressing with a focus on a medium sized, 10Mtpa spiral concentration plant, which could produce up to 400,000tpa of ilmenite in concentrate annually.
IHC has significant expertise in the design, engineering and construction of mineral sands processing plants, and has a significant laboratory, mineral processing and engineering group based in Queensland.
Its design optimisation work at McLaren will continue through the engineering and design stages.
Allup aims to deliver the PFS in Q2 2025, before moving into the Bankable Feasibility design phase.
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