company noted that initial production from the Mannar Island project would most likely occur on a zone measuring 10 km by average of 2 km wide, which contains an estimated 92.56-million tonnes of resources, at 5.24% total heavy mineral, out of a total resource estimate of 264.93-million tonnes.

“The scoping study has indicated the potential for an economically robust long-life project, which gives Titanium Sands the confidence to examine in more definitive studies expanding the project concept to a second or even third dredge and commensurately larger processing capacities,” said MD Dr James Searle.

The project development would be dependent on a number of factors, including regulatory approval from the Sri Lankan regulators, the grant of a mining license and licenses for the transport and export of mineral products.

Searle said that financing for the project would also need to be secured.