Posted in | News | Mineral Sands

Eramet and Mineral Deposits Ltd to Jointly Develop Grande Côte Mineral Sands Project

Eramet, the world's 2nd-largest producer of manganese alloys for steelmaking and Mineral Deposits Limited, a Melbourne, Australia based mining company developing the world class Grande Côte Mineral Sands Project in Senegal, West Africa, are to sign up for a joint venture to develop their assets in Senegal and Norway.

The French mining group Eramet will form a 50/50 partnership with the Australian company to develop the Grande Côte project. The joint venture is likely to be formally established by September 2011.

Both companies will contribute $138 million in equity to create the joint venture and a $30 million equalization payment was to be made to Mineral Deposits from Eramet. The Tyseedal titanium salg and pig iron processing plant in Norway owned 100% by Eramet and the 90% share of Mineral Deposits held in Grande Côte would form the joint venture.

The remaining 10% of the mine is owned by the Government of Senegal. The funds will allow Mineral Deposits to develop the Grande Côte Mineral Sands project sooner than expected. The project is likely to cost $516 million. The mineral sands are ores for titanium and zircon. Prices for both titanium and zircon have peaked in recent months with global demand.

The limited supplies for the commodities ensure an instant profit for a company which can fulfil the global shortfall. The joint venture would expect to become a major player in the global market for minerals sands commodities.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). Eramet and Mineral Deposits Ltd to Jointly Develop Grande Côte Mineral Sands Project. AZoMining. Retrieved on June 22, 2024 from https://www.azomining.com/News.aspx?newsID=4306.

  • MLA

    Scanlon, Joel. "Eramet and Mineral Deposits Ltd to Jointly Develop Grande Côte Mineral Sands Project". AZoMining. 22 June 2024. <https://www.azomining.com/News.aspx?newsID=4306>.

  • Chicago

    Scanlon, Joel. "Eramet and Mineral Deposits Ltd to Jointly Develop Grande Côte Mineral Sands Project". AZoMining. https://www.azomining.com/News.aspx?newsID=4306. (accessed June 22, 2024).

  • Harvard

    Scanlon, Joel. 2019. Eramet and Mineral Deposits Ltd to Jointly Develop Grande Côte Mineral Sands Project. AZoMining, viewed 22 June 2024, https://www.azomining.com/News.aspx?newsID=4306.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.