ASM is a package of near-production ready mineral sand deposits and processing facilities located in Virginia, USA
ATLANTIC STRATEGIC MINERALS (ASM)
Mineral Sands, USA
ASM constitutes a package of strategically located and near-production ready mineral sands deposits and processing facilities located in Virginia, USA.
The properties include some of the highest-grade mineral sands resources globally. They are expected to produce high-quality ilmenite and zircon from a historically operating mine with significant existing infrastructure. Appian plans to leverage its deep development and operational expertise to de-risk and restart the mining operations, with the refurbishment of two existing mineral concentrator plants and the development of mining infrastructure.
The Properties are well-positioned to provide a domestic supply of mineral sands. The Transaction includes provision for the sale of mineral sands products back to Iluka. The Transaction also advances Appian’s mineral sands strategy and complements its investment in Gippsland Critical Minerals, an existing mineral sands portfolio company in Victoria, Australia.
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