Projects

Image Resources’ original strategy consisted of mining and processing Ore Reserves from its initial mineral sands project at Boonanarring, then self-funding the relocation of mining and ore processing equipment to its 100%-owned Atlas project, as outlined in the Company’s 2017 Bankable Feasibility Study for Boonanarring/Atlas.

This original strategy consisted of operating a single mining/processing operation at a time, producing a single product of heavy mineral concentrate (HMC) and selling into a single market jurisdiction (China). This strategy is now referred to as “Chapter 1”. Under Chapter 1 the Boonanarring project was operated from December 2018 through September 2023, followed by relocation of mining and processing equipment to the Atlas project in 2024. Atlas construction commenced in Q3 2024, commissioning started in February 2025, 1 April marked the start of operations, first sale of Atlas HMC was completed in April, and ramp up to name-plate capacity production continued into June. 

Following the acquisition of the Eneabba Tenements and the McCalls Project in 2022, Image developed a new growth and sustainability strategy with the ambition of multiple mining/processing projects operating simultaneously, separating the HMC into multiple products, and expanding its marketing reach globally. This new strategy is referred to as “Chapter 2” and involves the following studies and pre-development activities:

• Fast-tracking development of dry mining operation at 100%-owned Yandanooka project (or alternatively Durack and later others) in the Eneabba tenements area, with potential for 8+ year mine-life;
• Development of dredge-mining operation at 100%-owned Bidaminna project with potential for 10 year mine-life;
• Development of hydraulic or dredge mining operation at 100%-owned McCalls project with potential for 50+ year mine-life;
• Construction of a Mineral Separation Plant (MSP) to capture the value-adding advantages of multiple products (including by-products such as monazite) and expanding the Company’s market reach globally, while capitalising on the opportunity for effective post-mining use of the land and installed infrastructure at Boonanarring; and
• Investigating the potential for construction of a synthetic rutile (SR) production facility in the vicinity of the MSP, for the value-adding and market-expanding upgrading of ilmenite from Yandanooka, Bidaminna and McCalls to potentially lower carbon dioxide emissions SR by using hydrogen as the iron reductant instead of coal as is used in current commercial SR processes in Australia.