Investing in mine upgrade

Pigment & Resin Technology

ISSN: 0369-9420

Article publication date: 1 June 2000

Keywords

Citation

(2000), "Investing in mine upgrade", Pigment & Resin Technology, Vol. 29 No. 3. https://doi.org/10.1108/prt.2000.12929cab.017

Publisher

:

Emerald Group Publishing Limited

Copyright © 2000, MCB UP Limited


Investing in mine upgrade

Investing in mine upgrade

Keywords: Millennium Inorganic Chemicals, Investment, Mining

Millennium Inorganic Chemicals (MIC) has announced plans to invest US$31 million in an upgrade of its mine in Paraiba, Brazil. The new equipment will mean more efficient ore recovery and lower operating costs.

"The Paraiba mine is a great operation and we are investing to make it state of the art", said Bob Lee, president and CEO. "Making the mine more efficient will help us lower costs and gain more control of this critical raw material. This investment will allow us to continue to locally source this raw material in Brazil and reduce our exposure to currency movements."

Work was expected to begin in March, with an expected completion date of December 2001. Upon completion of the project, the Paraiba facility will produce 120,000 metric tons per year of ilmenite.