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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: emaildelivery@businesswire.com X-To: TX-INDUSTRIAL-INFO-RES@businesswire.com X-cc: X-bcc: X-Folder: \PTHOMAS2 (Non-Privileged)\Thomas, Paul D.\Deleted Items X-Origin: Thomas-P X-FileName: PTHOMAS2 (Non-Privileged).pst Welcome to eMail News Delivery, a service from Business Wire. Here is your Industrial Information Resources Inc. news release. If you have received this in error please send a message to: eMailDelivery@businesswire.com with the following command in the body of the message: unsubscribe TX-INDUSTRIAL-INFO-RES If you have questions about this service, please contact your Business Wire Account Executive or service@businesswire.com BW2008 OCT 19,2001 2:05 PACIFIC 05:05 EASTERN ( BW)(TX-INDUSTRIAL-INFO-RES) Sands Running for South African/Australian Mining Venture, in an Advisory by Industrialinfo.com Business/Energy Editors & Environmental Writers HOUSTON--(BUSINESS WIRE)--Oct. 19, 2001--The following is an advisory by Industrialinfo.com (Industrial Information Resources, Inc., Houston, Texas). The joint venture Ticor SA, between Kumba Resources, the mining arm of Iscor the South Africa steel company, and Australia's Ticor, has brought in the biggest Australian investment to South Africa to date. Kumba has sold 40% of their heavy minerals sand mining project near Richard Bay off the Kwazulu-Natal Indian Ocean coast. Kumba banked approximately $40 million on the signing of the deal and Ticor has the option to increase its stake to 80% when the $130 million smelter is completed during the second phase of the project at the end of 2003. With this venture, Ticor could double the company's profit, as titanium dioxide slag production would double to 100,000 tons per annum. This would mean that Ticor could control 11% of global titanium feedstock, making it the third largest producer in the world. The new project would also make South Africa the world leader in titanium oxide production. The 80 million tons of heavy mineral reserves at the Hillendale mine will represent the first phase and will be undertaken with hydraulic mining methods. Reserves are expected to last about ten years but the operation could be extended to 22 years by starting new mines at Fairbreeze to the south before the Hillendale deposit runs out. The project is expected to attract $110 million of foreign investment in the next two years and has established a community development program in the area. Environmental protection and safety have also received priority attention as have other sand mining projects in the area. Industrialinfo.com provides daily news related to the industrial market place including industry alerts and databases for the energy and industrial markets. For more information on trends and upcoming construction activities for the Metals & Minerals industry as well as other industrial sectors send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com. --30--HM/ho* CONTACT: Industrialinfo.com, Houston Joseph Govreau, 713/783-5147 KEYWORD: TEXAS AUSTRALIA SOUTH AFRICA INTERNATIONAL ASIA PACIFIC AFRICA/MIDDLE EAST INDUSTRY KEYWORD: ENERGY ENVIRONMENT MINING/METALS SOURCE: Industrialinfo.com For the best viewing of the news releases please use the following email settings: Courier 10 point. -Notice of Copyright and General Disclaimer- © 2000 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. - Notice of Copyright and General Disclaimer -- © 1999 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission.
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