FinnAust Opts for IHC Mining Equipment
- Business & Finance
FinnAust Mining Plc has appointed Royal IHC to provide primary support services for the company’s Pituffik Titanium Project (Pituffik).
The companies will now work closely to define an optimized development solution that includes their in house wet mining equipment as well as a high level cost estimation for the Pituffik.
This work will include the appropriate mechanisms for the delivery of a “proof-of-concept” bulk sample, which is planned for 2017, as well as expanding the operation into a potential multi-decade operation supplying low impurity Ilmenite.
FinnAust Mining Plc CEO, Roderick McIllree, said, “The decision to partner with Royal IHC was a process of selection and took time to get right.”
According to him, the company reviewed proposals from multiple parties for the provision of these services however it was IHC that stood out as the best.
“Their level of proven understanding and global experience operating efficient and advanced dredging equipment in all types of environments complement the team we have built as we continue to work through the permitting of this project,” said McIllree.
“Based on the results of work conducted to date it is my belief that Pituffik has significant commercial value, with the potential to support a long-term mining operation exploiting what is a high-grade ilmenite occurrence,” added McIllree.
IHC is a globally recognized player with a long history of in-house expertise operating in locations throughout the world in both deep and shallow marine environments.