Kalvinit – ilmenite
Endomines AB’s wholly owned subsidiary Kalvinit Oy has large ilmenite deposits in the Kälviä area in Western Finland.
The area of interest comprises five ilmenite-magnetite deposits approximately 7 km apart: Koivu, Kaire, Peräneva (Perä), Lylyneva (Lyly) and Riutta.
Ilmenite is the main source of titanium dioxide (TiO2), which is used in paints, fabrics, plastics, paper, sunscreen, food and cosmetics.
The titanium dioxide industry was estimated at $13 billion in 2016 and is forecasted to have CAGR 8.9% (Grand View Research, Inc, November 2017)
The ilmenite mineralisations were discovered in the early 1970s and they were extensively drilled and tested by the Geological Survey of Finland (GTK) between 1992 and 1996.
In 1997 Kalvinit acquired the claims and has since carried out an extensive study programme.
Kalvinit did bench and pilot scale metallurgical test work on the Koivu deposit between 1998 and 2000, culminating in a 17,000t pilot scale run by VTT Mineral Processing in 2001. The concentrate produced was evaluated by Kemira Pigments Oy in a full scale run at its Pori plant (Finland).
In 2006 Micon International completed JORC compliant resource assessment of the Koivu and Kaire deposits.
A scoping study completed in 2012 demonstrated an ability to produce titanium concentrate at 250,000 tpa and magnetite at 48,000 tpa (20-year life of mine)
Kalvinit has five deposits: Koivu, Kaire, Perä, Riutta, and Lyly
- The area of interest covers 100 hectares in Western Finland: 80 km from the world-class Kokkola port on the Baltic Sea and 60km from the Kokkola city
- Koivu and Kaire have JORC indicated and inferred resources of 68.7Mt averaging 7.5% titanium dioxide (TiO2) and 5.2% magnetite
Koivu and Kaire models:
View over the planned open pits in Koivu and Kaire from above. The brown parts indicate the planned stripping of rock etc. around different ore lodes marked with blue, red, and yellow.
Source: Micon International Limited