Publish Date : 07-Mar-2014
The London-listed integrated antimony development firm, Tri-Star Resources, says it has initiated discussions with contractors aimed at kicking off construction work this year on the Middle East's first antimony roaster project proposed to be set up in Freezone Sohar.
Plans drawn up by Tri-Star Resources and its joint venture partners envisage a 20,000-tonne per annum capacity antimony concentrate roasting facility involving an investment of around $60 million. Oman Investment Fund (OIF), a sovereign wealth fund of the Sultanate of Oman, and Castell Investments Ltd, a subsidiary of Dubai Transport Company, are joint venture partners in the project under a non-binding MoU signed by the three parties last October.
"Negotiations continue with our joint venture partners and a number of interested banking parties in relation to the Roaster Project and discussions have commenced with contractors in relation to the construction of the Roaster itself," said Adrian Collins, Chairman, Tri-Star Resources, in the company's 2013 financial report.
"The Company has worked, with its joint venture partners, to progress the legal, engineering and environmental due diligence work streams associated with the Roaster Project.
I am delighted to say the technical due diligence has now been completed and other work is now well advanced, and the parties are now moving forward towards the establishment of the joint venture entity and to completion of documentation," Collins added.
The principal use of antimony is in flame retardants as antimony trioxide (ATO), which accounts for approximately 70 per cent of primary antimony consumption. Antimony trioxide is used in this way in many products including plastics, textiles, rubber, adhesives and plastic covers for aircrafts and automobiles. Around 90 per cent of flame retardant production is utilised in electronics and plastics, in particular for printed circuit boards in the server and computer industry, while the remaining 10 per cent ends up in coated fabrics and furniture upholstery and bedding.
According to Collins, significant headway had been made in progressing the antimony project, which will produce antimony ingot, ATO and related products. "The Environmental Impact Assessment for the Roaster Project has also been completed and submitted. The target remains to commence site preparation and construction of the facility during 2014 with the aim of commissioning the Roaster Project during 2016," he said.
Further, to secure feedstock for the project, Tri-Star Resources has announced the acquisition of Canadian mining firm, Portage Minerals Inc, along with its Bald Hill antimony deposit in New Brunswick, Canada.
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