McLaren Minerals Limited (ASX: MML), an exploration company focused on developing its high-value McLaren titanium project in Western Australia’s Eucla Basin, has provided an update on its Pre-Feasibility Study (PFS) for the McLaren Project. Titanium is considered a critical mineral essential for aerospace, defence, and energy technologies. The company reports that engineering for the PFS is 95% complete, with the flowsheet confirmed and capital expenditure (Capex) and operational expenditure (Opex) estimates nearing finalisation. Final assay results are imminent and will be incorporated into a Mineral Resource update, while mineralogical work is also underway.
The McLaren Project boasts a substantial titanium deposit, currently holding 280 million tonnes at 4.8% HM (JORC), containing approximately 4 million tonnes of ilmenite. Its location offers logistical advantages, situated 350km from Esperance Port via sealed road, providing access to deep-water facilities capable of handling Capesize vessels. McLaren Minerals has also received a market report from Specialised Mineral Services (SMS), confirming the McLaren ilmenite as a desirable feedstock for both sulfate pigment and chloride slag markets. The report indicates growing chloride slag capacity with a forecast TiO2 supply deficit in the coming years.
The SMS report supports the inputs for the McLaren PFS and justifies the pricing assumptions used. According to Managing Director Simon Finnis, the independent marketing report validates the company’s development rationale for bringing a sulfate ilmenite product to market. Finnis noted the increasing smelting of sulfate ilmenites, particularly in Europe, the Middle East, and China, resulting in two product streams—pig iron and chloride slag—which enhances revenue and minimises waste. The PFS is designed around the production of approximately 400ktpa of ilmenite concentrate. The high combination of TiO2 and Fe in McLaren’s product makes it well-suited for smelters, with the resulting chloride slag being a popular feedstock for chloride pigment producers.
