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Base Resources delighted with PFS study result for Toliara in Madagascar

A feasibility study for its Toliara project in Madagascar has confirmed it is a world class project, says Tim Carstens, managing director of minerals sands miner Base Resources Limited (LON:BSE).

The net present value of Toliara was estimated at US$671mln in the study based on a mine life of 33 years producing 806,000 tonnes of ilmenite, 54,000t zircon and 8,000t of rutile each year.

Carstens told Proactive that in its existing operation at Kwale and now Toliara, Base Resources has the two most profitable mineral sands projects in the world.

 
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