Goondicum Project

The Goondicum mine is a high-grade ilmenite mine located in Queensland, Australia (Fact Sheet)

Industrial Minerals

  • Ilmenite is an industrial mineral that serves as a feedstock used in the production of titanium dioxide (TiO2) pigment which is used primarily in the production of paints, coatings, inks, plastics and other products, due to its ability to impart brightness, opacity, strength and durability to the product
  • Pigment production is related to urbanization and has a high correlation to GDP growth
  • The market for ilmenite is currently experiencing strong and growing demand, particularly from China due to the country’s ongoing economic development and urbanization
  • Melior is well positioned to capitalize on this demand due to its close proximity to Asia and near-term production profile

Resource Estimate & Exploration Potential

Resource Estimate*

  • Average annual ilmenite production of 160,000 tonnes with peak production of 200,000
  • Average annual apatite production of 40,000 tonnes with peak production of 50,000 tonnes
  • A mine life of 9 years using a high-grade mine plan
  • Total resource processed over the LOM of 22 million tonnes at an average ilmenite and apatite grade of 9.7% and 1.8% respectively

Resource Expansion

  • The current mining lease occupies only 20% of the Goondicum crater
  • The crater has potential to show similar geology and mineralization to the current mining area offering significant exploration upside
  • Goondicum holds exploration licenses for the remainder of the crater

Goondicum Crator


  • The products are trucked 260km to a port facility at Gladstone where it is shipped to final customers
  • Opportunity to reduce trucking distance to 160km through the construction of a new 22km mine access road, reducing logistics costs significantly
  • Fully-operational port with bulk loading facilities available –  35kt storage facility located at the port
  • Extensive installed utilities –  35km water pipeline –  26km grid-connected power line

Metallurgical Process

  • Simple mining process using standard earth moving equipment – No overburden – No drill and blast – Short haul distances
  • Ore being processed by a feed preparation plant and wet concentration plant using a conventional extraction process including scrubbers, screens, cyclones, gravity spirals and magnets – Processing plant has a design throughput of 375tph


*  As per Preliminary Economic Assessment (PEA), independently prepared by TZ Minerals International Pty Ltd in accordance with the guidelines of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
The PEA is preliminary in nature and includes Inferred Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral Reserves, and there is no certainty the PEA will be realized. Based on the work carried out in this PEA and the preliminary economic evaluations contained therein, management believes a positive business case has been supported for the restart of operations of the Goondicum project. The IRR of the Goondicum project is high which is consistent with the brownfield nature of the project and low restart capital costs. This is also reflected in a short payback period.