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The latest update is out from MRG Metals Limited ( (AU:MRQ) ).
MRG Metals’ Chinese joint venture partner Sinowin Lithium has agreed to fund further drilling at the Corridor North titanium dioxide project in Mozambique, aiming to expand known heavy mineral sands mineralisation and generate the geological data needed for a mining licence application. The move brings Corridor North into line with the more advanced 2 billion tonne Corridor Central and South deposits, where Sinowin is already investing and assuming responsibility for maintaining the licence through annual exploration spending.
At Corridor Central and South, Sinowin has deployed more than US$2 million, secured Environmental and Social Impact Assessment approval, and set a 2027 start date for initial production, with first-year output targeted at 130,000–160,000 tonnes of heavy mineral concentrate and a five-year ramp-up goal of 800,000 tpa. The nearby, near-operational Port of Chongoene and existing road and power infrastructure underpin a clear, low-cost export route, leaving MRG free-carried as the JV advances the full Corridor Sands production corridor and potentially strengthens its position in the global titanium dioxide supply chain.
More about MRG Metals Limited
MRG Metals Limited is an Australian mineral exploration company focused on titanium dioxide and heavy mineral sands projects in Mozambique. Through joint ventures, notably with Chinese partner Sinowin Lithium, the company is advancing large-scale Corridor Sands tenements, targeting long-life production supported by established regional infrastructure and export facilities.
Current Market Cap: A$11.94M
Find detailed analytics on MRQ stock on TipRanks’ Stock Analysis page.