Mineral sands miner Iluka Resources has abandoned plans to advance the Tapira titanium project with Vale in Brazil after it determined the prospect is too complex to develop with current technologies.
According to an ASX statement, Iluka has spent $6 million on exploration at the project since signing the JV agreement with the Brazilian partner in 2014.
“Iluka advises that the Tapira joint venture with Vale has now been terminated following the phase one investigations over the last two years,” the company stated.
“Due to the complex geological nature of the deposit, and contained mineral assemblage, a method to produce a market acceptable titanium dioxide feedstock was not identified using currently known conventional or alternative technological routes.”
The Tapira prospect hosts large volumes of titanium-bearing minerals, which occur in association with Vale’s existing phosphate mining operations, according to Iluka.