How Resouro’s Latest Testwork Could Transform the Tiros Titanium Project

Metallurgical Breakthroughs at Tiros

Resouro Strategic Metals has delivered a substantial update on its metallurgical testwork and Preliminary Economic Assessment (PEA) for the Tiros Titanium and Rare Earths Project, situated in Minas Gerais, Brazil. The latest results reveal that a conventional processing flowsheet can produce a high-grade titanium dioxide concentrate while achieving impressive extractions of total rare earth oxides (TREO) through sulphuric acid leaching.

Specifically, fine particle testwork (<20 microns) demonstrated TREO extraction rates between 88.8% and 95.2%, alongside titanium dioxide recoveries ranging from 71.2% to 94.2%. Coarse particle processing (>75 microns) yielded a titanium dioxide concentrate grade of 76.8%, albeit with a lower recovery of 39%. These outcomes provide growing confidence in the project's metallurgical viability.

Optimisation Efforts to Improve Economics

While the testwork results are promising, Resouro is actively pursuing optimisation to reduce the high sulphuric acid consumption currently observed, which ranges from 700 to 1,320 kilograms per tonne of raw sample. Given that iron oxides and alumina constitute over half of the acid-consuming material in the feed, beneficiation techniques such as magnetic separation and flotation are being trialled to remove these gangue minerals before leaching. Early indications suggest these methods could materially lower acid usage without compromising metal recoveries.

Additional process improvements under evaluation include reductive calcination, acid baking conditions, acid regeneration and recycling, and the potential for on-site sulphuric acid production leveraging Brazil's abundant elemental sulphur resources. These initiatives aim to enhance project economics by reducing operating costs and improving metal recovery rates.

Progress on Preliminary Economic Assessment

The PEA is advancing steadily, with initial mine planning substantially complete and environmental impact assessments underway. However, Resouro has indicated that the PEA may be temporarily paused to incorporate the results of ongoing metallurgical optimisation, particularly the beneficiation outcomes that will influence processing costs. Final capital and operating cost estimates for the processing plant remain pending these inputs.

The project benefits from a robust mineral resource estimate, with measured and indicated resources comprising approximately 1.4 billion tonnes containing 165 million tonnes of titanium dioxide and 5.5 million tonnes of total rare earth oxides. An independent market study for titanium dioxide and rare earth oxides has been received, with updates expected following beneficiation testwork completion.

Strategic Significance and Next Steps

Resouro’s CEO, Christopher Eager, emphasised the potential for Tiros to emerge as a globally significant regolith-hosted titanium and rare earths project. The company’s focus on refining the processing flowsheet and reducing reagent consumption is critical to realising this potential. The ongoing metallurgical testwork at laboratories in Canada and Brazil will inform the final PEA, which in turn will guide investment and development decisions.

Environmental permitting and infrastructure planning are progressing in parallel, positioning the project well for the next phases of development. Investors and analysts will be watching closely for the outcomes of beneficiation optimisation and the updated economic assessment, which will provide clearer insights into the project’s commercial viability.