Heavy Minerals Limited (HVY), headquartered in Perth, Western Australia, is emerging as a new entrant in industrial minerals, particularly in the extraction and production of garnet and heavy mineral sands.
Its primary asset is the Port Gregory Garnet Project in Western Australia. It stands out with a JORC Compliant Mineral Resource Estimate of 166 Mt @ 4.0% Total Heavy Minerals (THM), which translates to 5.9 Mt of contained garnet. The project not only boasts a potential 16-year mine life but also shares boundaries with renowned mining ventures like the GMA Garnet Group (GMA) mine and Resource Development Group Ltd’s Lucky Bay Mine. Together, these sites are recognised among the world's premier sources of high-quality garnet a product that enjoys strong annual global demand as an industrial cutting and abrasion agent in construction, shipping, machining and sandblasting.
Complementing its portfolio in Western Australia is the Red Hill Garnet Project located adjacent to PG. This exploration-stage asset holds an Exploration Target ranging 90 to 150 Mt of material, ranging 4.1% to 5.4% THM with anticipated yield between 5 to 6 Mt of THM and an impressive 3.8 to 4.5 Mt of garnet.
HVY also holds a significant 70% stake in the Inhambane Mineral Sands Project in Mozambique. This project, with its JORC compliant Inferred Mineral Resource of 90MT at 3.0% THM, highlights HVY's expanded footprint in the heavy mineral sands domain. The Inhambane Project's strategic location, neighbouring mining ventures by industry giants like Rio Tinto and Savannah Resources, further elevates its potential contribution to the sector.
In essence, Heavy Minerals Limited aspires to be a successful near term global supplier of strong demand garnet and heavy mineral sands. With its robust portfolio of projects in Australia and Mozambique, HVY will make significant strides in the global minerals industry