Mining Intelligence and News
Madagascar

Toliara Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Heavy Minerals
  • Ilmenite
  • Rutile
  • Zircon
  • Leucoxene
  • Monazite
  • Garnet
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Toliara Project is considered one of the best-undeveloped mineral sands opportunities in the world. Although currently delayed while fiscal terms are being agreed with the Government of Madagascar, project funding, engineering design, and planning are well advanced.

The Toliara Project currently holds a mining permit that allows production of titanium and zirconium minerals, including ilmenite, rutile, and zircon. In 2019, development activities at the Project were suspended by the Government of Madagascar.

On Nov. 28, 2024, Energy Fuels announced that the Madagascar Council of Ministers has lifted the suspension of the Company's 100%-owned Toliara critical minerals project. In October 2024, Energy Fuels acquired Base Resources and the Toliara Project. The Company can now re-commence development and other technical activities on the ground.

Owners

SourceSource
CompanyInterestOwnership
Energy Fuels Inc. 100 % Indirect
Base Toliara SARL (operator) 100 % Direct
On Oct. 2, 2024, Denver-based Energy Fuels Inc., an industry leader in the U.S. production of uranium and rare earth elements ("REE"), announced that it has completed the acquisition of Base Resources Limited, an established heavy mineral sands ("HMS") and critical mineral company, headquartered in Perth, Australia, in consideration of the issuance of Energy Fuels shares totaling approximately US$178.4 million in value .

The Base Resources Ltd.'s 100% owned Toliara Project is based on the Ranobe deposit.

Contractors

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Deposit type

  • Mineral sands

Summary:

The heavy mineral sand deposit is located on the southwest coast of Madagascar within the Mesozoic Morondava Basin along the eastern margin of a coastal plain juxtaposed to an Eocene limestone scarp. The coastal plain is underlain by limestone and overlain by a sequence of progressively shallowing beach and lagoon unconsolidated clastic sediments and subaerial dunes which successively overstep and onlap the basement limestone scarp in the east.

The deposit is hosted within a stabilized mega-dune system which is arrested along the basement scarp slope and extends for approximately 20 km north northwest south southeast. The entire dune unit is mineralized by an assemblage of ilmenite, zircon, rutile and monazite concentrated within the unit by aeolian winnowing. The unit generally thickens westwards away from the scarp slope from 3m to 60m. The deposit anisotropy parallels the scarp slope, with higher HM grades concentrated along the megadune crest line.

Upper sand unit (USU) - a well sorted, fine-grained, unconsolidated aeolian sand containing approximately 4% slime or clay (SL) and approximately 5% HM. The HM is primarily ilmenite, with secondary zircon and rutile. The USU can also contain a surface silt unit (SSU) within broad topographical drainage features, and another silty sand unit (USSU) at the base of the USU profile.

Intermediate clay sand unit (ICSU) - a thin unit of high slime content with a dark red to orange-brown sandy clay and clayey sand material averaging approximately 3% HM and 25% SL deposited in a low energy lagoonal environment.

Lower sand unit (LSU) - orange-brown to yellow-brown medium grained quartz sand with variable mineralisation and moderately low slimes content. The LSU is interpreted as a shallow marine or fluvial sediment that onlaps the limestone (LST) basement with HM primarily ilmenite and garnet, with secondary zircon.

The deposit thickness generally increases to the west.

The resource extends for 20km north - south and averages 3km wide east-west. The average depth of mineralization from the surface to the 1.5% HM cut-off is 20m with a range of 2m to 36m.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Monazite Mineral in concentrate kt 21810
Heavy Minerals Concentrate kt 1,50055,600
Ilmenite Mineral in concentrate kt 96036,115
Rutile Mineral in concentrate kt 8283
Zircon Mineral in concentrate kt 662,468

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Cash costs Heavy Minerals USD  ....  Subscribe
Total cash costs Heavy Minerals USD  ....  Subscribe
Assumed price Rutile USD  ....  Subscribe
Assumed price Zircon USD  ....  Subscribe
* According to 2021 study / presentation.

Operating Costs

CurrencyAverage
Total operating costs ($/t mined) USD  ....  Subscribe
* According to 2021 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Expansion CapEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 29, 2024

Total WorkforceYear
...... Subscription required 2021

Aerial view:

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