Olympia Resources ships first zircon from C. Kalimantan

Australian mining company Olympia Resources said Monday it had shipped the first 120 tons of zircon concentrate from Central Kalimantan to China for trial testing by Chinese customer Zhangzhou Antai Zircon Industrial Development Co. Ltd.

Olympia said in a statement that the second trial shipment of 120 tons is planned to the same country for Zibo Qi-Culture Technical and Economic Development Co. Ltd in May.

Olympia said Zhangzhou and Zibo had each agreed to purchase from Olympia at world market prices up to 50,000 tons of zircon per annum over the next 10 years

The zircon concentrate, containing 75-80 percent zircon, is purchased by Olympia from small zircon producers in the province.

Olympia also said larger shipments are planned, progressively increasing zircon sales to approximately 3,000 tons per month.

Olympia plans to source approximately 35,000 tones of zircon per annum from local producers and anticipates increasing supply by establishing its own zircon mining operation in Kalimantan to produce up to 100,000 tons of zircon per annum.

Zircon is extremely hard and resistant to corrosion. It is used in the steel industry to line blast furnaces, in the ceramics industry, and in engines, electronics and spacecraft. (Robert)