Mineral Commodi-WPS Office

Mineral Commodities Ltd
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Company Profile
Mineral Commodities Ltd (“MRC”) is a global mining and development company with a primary focus on
the development of high-grade mineral deposits within the industrial and battery minerals sectors.
MRC is committed to undertaking operations in a socially and environmentally responsible manner that
is consistent with industry best practice and the safety and well-being of its people is core to the
operational culture. MRC is proud of the diversity of its global workforce of 350 employees and the
culture of safety and community it has fostered. MRC is committed to safe and sustainable business
practices which bring value to its employees, customers, shareholders and result in a social dividend to
local communities.
MRC is a diversified mining company executing two complementary business strategies focused on the
production of Heavy Mineral Sands and Natural Flake Graphite concentrates from two of the world’s
highest grade mines and one shovel-ready development project.
MRC currently operates the:
Tormin Mineral Sands Operation, South Africa
Skaland Graphite Operation, Norway
and is developing the:
Munglinup Flake Graphite Project
As part of its graphite strategy, MRC is investing in a downstream value-adding strategy targeting the
production of low CO2 emission, environmentally sustainable natural battery anode material from both
the Skaland and Munglinup natural flake concentrate. MRC’s anode strategy is targeting the production
of natural anode material from dedicated anode plants in Europe and Western Australia as early as late
2023, which aims to capitalise on the fast-growing demand for sustainably manufactured Lithium-Ion
Batteries.
Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia
T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]
© Copyright Mineral Commodities Ltd. All rights reserved. Site Map | Privacy Statement
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Board of Directors
Brian Moller
Independent Non-Executive Chairman
Mr Moller is a solicitor of the Supreme Court of Queensland and Solicitor and Barrister of the Supreme
Court of Western Australia. He specialises in capital markets, mergers and acquisitions, and corporate
restructuring, and has acted in numerous transactions and capital raisings in both the industrial and
resources and energy sectors. He is a partner at the legal firm HopgoodGanim for over 30 years and
leads the firm’s Corporate Advisory and Governance practice. Mr Moller acts for many publicly listed
companies in both Australia and elsewhere and regularly advises boards of directors on corporate
governance and related issues.
Russell Gordon Tipper
Non-Executive Director
Mr Tipper is a mining engineer with considerable senior executive, mining and project level experience,
having held a number of senior executive positions with mining companies over the years, including
group treasurer for a large miner for four years. He has delivered feasibility studies and project
proposals for major mining and infrastructure projects, such as the Hope Downs Iron Ore Project and
the Karara Magnetite Project. Mr Tipper has also been instrumental in debt restructuring and capital
raising, along with providing leadership in the revision of work practices at mining operations.
Debbie Ntombela
Ms Ntombela is a lawyer in South Africa with an in-depth knowledge of the mining sector, specifically
regarding regulatory compliance from previously working at, and with, the Department of Mineral
Resources and the mining industry in South Africa. She specialises in applications for prospecting rights,
mining rights, mining permits, and all related mining and exploration documentation. Ms Ntombela is
currently a Partner in the law firm Shepstone & Wylie in South Africa.
Zamile David Qunya
Mr Qunya has been a director of the Company’s South Africa subsidiary Mineral Sands Resources (Pty)
Ltd, which owns the Tormin Mineral Sands Mine, since November 2014. He is also a director and
shareholder in Blue Bantry Investments, the Company’s Black Economic Empowerment Partner in South
Africa. He has extensive experience in South African local government matters, having held position as
Major and Councillor of the MbiZana Municipality and the Wild Coast District Council. He was also
regional manager from 1999 to 2004 for Eskom and Shall in the KwaZulu Natal and Eastern Cape
responsible predominantly for human resource management.
Guy Redvers Walker
Mr Guy Walker is a highly accomplished director and senior investment management executive with
over 25 years’ financial market experience. He has experience on the boards of listed mining companies,
including exploration, development and production companies. He has extensive experience in capital
raising through both traditional banks and alternative lenders.
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Corporate
Board of Directors
Senior Management
Corporate Governance
Senior Management
Scott Lowe
Chief Executive Officer
Mr Lowe was appointed Chief Executive Officer in September 2023. Mr Lowe holds a post-graduate
qualification in Business Management (MBA) along with tertiary qualifications in Mining Engineering, a
Mine Manager’s Certificate of Competency (Australia) and a Diploma in Marine Terminal Operations
from King’s Point Merchant Marine Academy NY USA. Mr Lowe is a senior mining executive with
extensive experience in the industry spanning more than 35 years in a wide range of commodities and
countries, including CEO of a number of junior companies and senior executive positions with BHP,
ArcelorMittal, Peabody Pacific and South32.
Adam Bick
Chief Financial Officer
Mr Bick was appointed Chief Financial Officer in June 2019. Prior to this, he was the Group Financial
Controller and Commercial Manager of the Company, commencing in April 2017. He is a Chartered
Accountant with over 26 years of experience in CFO and/or senior managerial positions in the resources
industry. His commodities experience incorporates oil, gas, mineral sands and iron ore with companies
including Fortescue Metals, ARC Energy Ltd and New Zealand Oil & Gas.
Katherine Garvey
Company Secretary
Ms Garvey is an experienced corporate and commercial lawyer and company secretary, with significant
experience in the resources sector and acting for listed public companies.
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Corporate Governance
Mineral Commodities Ltd (MRC) is committed to achieving the highest standards of corporate
governance, and is a proponent of continuous improvement.
The Board of Directors of the Company is responsible for corporate governance of the Company. The
Board guides and monitors the business of the Company on behalf of the shareholders, to whom they
are accountable, and by whom they are elected.
MRC’s corporate governance policies and procedures are below:

Directors’ Code of Conduct
Corporate Principles and Code of Conduct
Code of Conduct – Stakeholders
Board Charter
Remuneration and Nomination Committee Charter
Audit, Compliance and Risk Committee Charter
Evaluation Procedure of the Board and its Committees
Risk Management and Internal Compliance
Selection and Appointment of Directors
Provision of Non-Audit Services
Diversity Policy
Securities Trading Policy
Statement of Corporate Governance
Mineral Commodities Ltd Constitution
Whistleblower Policy
Anti Bribery and Corruption Policy
Modern Slavery Statement
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Mineral Sands
The Company, via its 50% owned South African subsidiary, Mineral Sands Resources (Pty) Ltd (“MSR”), is
a leading producer of zircon, rutile, garnet and ilmenite concentrates from the high-grade Tormin
Mineral Sands Operation on the west coast of South Africa. Tormin is one of the highest grade mineral
sands mines in the world and supplies circa 25% of the world’s demand for garnet sands, as well as
being an essential producer of high-value zircon/rutile concentrates and a top ten independent global
supplier of titanium feedstock.
MRC also holds the prospecting rights for the world-class, large-scale Xolobeni Mineral Sands Project via
its 56% South African subsidiary, Transworld Energy and Minerals (SA) (Pty) Ltd (“TEM”). Located on the
east coast of South Africa, Xolobeni contains a Measured, Indicated and Inferred Resource of 346 million
tonnes at 5% Total Heavy Minerals (“THM”), making it one of the largest undeveloped, high-grade
mineral sands deposits in the world.
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Sustainability
MRC is committed to supporting the sustainability of the natural environment, the people who rely on
that environment, and to ensuring the health and safety of our workforce and the communities in which
we operate.
Our responsibility is to conduct business in a manner that uses best practices to minimise the effects of
our operations on the environment, to actively promote the sustainability of local communities, and to
provide a safe workplace for all employees, contractors and visitors.
MRC Sustainability Policy
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Mineral Sands
What are Mineral Sands?
Most sand on the beach consists of grains of the mineral quartz (SiO2). Mineral sands are old beach,
river or dune sands that contain concentrations of the important minerals rutile, ilmenite, zircon and
monazite. These ‘heavy’ minerals have a relative density of between 4 and 5.5g/cm3 and are much
heavier than common sand minerals such as quartz which has a density of around 2.65g/cm3. Garnet,
magnetite, sapphire, diamond and staurolite are also mined from some mineral sand deposits.
How are Mineral Sands formed?
Rutile, ilmenite, zircon, garnet, magnetite, diamond and monazite are all hard minerals that are resistant
to weathering. They all originally grew as crystals in igneous rocks such as granite or basalt and some
metamorphic rocks. Over millions of years, these rocks were weathered and eroded. The harder
minerals including quartz were washed down to the sea by heavy rainfall and fast flowing streams.
The minerals were then carried back up onto the beach by waves. As the waves washed up and down on
the beach, they carried the lighter quartz grains with them back into the sea, leaving the grains of the
heavy minerals behind on the beach. Wind also helped to concentrate the heavy minerals by blowing
away the lighter quartz sand. These processes were repeated many times over millions of years,
eventually creating a large deposit of mineral sands on the beach.
As the sea level rose and fell over geological time, the shoreline also moved. As this happened, the
deposits of mineral sand were covered by more sand and built up, or were eroded and redeposited
elsewhere. This is why we sometimes find mineral sand deposits many kilometres inland and maybe as
much as 50 metres below the surface.
Source: Geoscience, Australia. https://www.ga.gov.au/education/classroom-resources/minerals-

energy/australian-mineral-facts/mineral-sands
MRC’s Tormin Mineral Sands Operation consists of four concentrate product streams:
High Grade Garnet Concentrate
High Grade Zircon/Rutile Concentrate
High Grade Ilmenite Concentrate
Medium Grade Ilmenite Concentrate
Garnet Concentrate
Garnet is usually thought of as a gemstone but most garnet is mined for industrial uses. The major
industrial uses of garnet are for waterjet cutting purposes, abrasive blasting media, water filtration
granules and abrasive powders.
Zircon Rutile Concentrate
Zircon is used in the manufacture of ceramic products including tiles, sanitaryware and tableware and as
an opacifier in surface glazes and pigments. Zircon is also the main component in the production of
zirconium chemicals used in antiperspirants, paper coatings, paint driers and catalysts. Other main uses
for zircon include foundry sand, Cathode Ray Tube television glass and refractories.
Rutile is a form of titanium dioxide mineral.
Titanium dioxide minerals rutile, leucoxene and ilmenite are the principal feedstocks for titanium
pigment production. Titanium pigments are used for the manufacture of paints, coatings and plastics
and also in other applications such as pharmaceutical, cosmetics, inks and fibres. Titanium dioxide is
used in specialist applications including welding rods and also in the production of titanium metal for
industrial and aerospace applications.
Ilmenite Concentrate
Ilmenite is the main source of mineral feedstock for titanium dioxide which is used in paints, paper,
toothpaste, sunscreen and even food colouring.
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Investor Fact Sheet
Company Name
Mineral Commodities Ltd (MRC or the Company)

Business Description
MRC is a global mining and development company with a primary focus on the development of high-
grade mineral deposits within the mineral sands and battery minerals sectors.
The Company is committed to undertaking operations in a socially and environmentally responsible

manner that is consistent with industry best practice, and the safety and wellbeing of its people is core
to the operational culture. MRC is proud of the diversity of its global workforce of 350 employees and
the culture of safety and community it has fostered. MRC is committed to safe and sustainable business
practices which bring value to its employees, customers and shareholders and result in a social dividend
to local communities.
Munglinup Flake Graphite Project, Australia
As part of its graphite strategy, MRC is also investing in a downstream value-adding strategy targeting
the production of low CO2 emission, environmentally sustainable natural battery anode material from
both the Skaland and Munglinup natural flake concentrates. MRC’s anode strategy is targeting the
production of natural anode material from dedicated anode plants in Europe and Western Australia as
early as 2024, which aims to capitalise on the fast-growing demand for sustainably manufactured
Lithium-Ion Batteries.
Registered Office
Level 2, 161 Great Eastern Highway
Belmont, Western Australia 6104
Telephone: (+61) 8 6373 8900
Facsimile: (+61) 8 9373 8999
Email: [email protected]
Investor enquiries: [email protected]
Web address: www.mineralcommodities.com
Shares on Issue
691,455,941
Performance Rights
9,200,000
Market Listings
Australian Securities Exchange (ASX) Code: MRC
Chairman
Brian Moller
Board of Directors
Brian Moller
Russell Tipper
Debbie Ntombela
Zamile Qunya
Guy Walker
Company Secretary
Katherine Garvey
Share Registry
Link Market Services Ltd
Level 12, QV1 Building
250 St Georges Terrace
Perth, Western Australia 6000
Tel: 1300 554 474
Auditors
BDO Audit (WA) Pty Ltd
38 Station Street
Subiaco, Western Australia 6008

Tel: (+61) 8 6382 4600
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Current Vacancies
MRC employs circa 280 team members across multiple countries. We seek to employ dedicated people
with a range of skills and abilities, and reward innovation and forward-thinking. Our team comprises a
diverse range of cultures and backgrounds, and we are proud of our global approach to hiring.
Enquiries
Keywords
Location
Remote positions only
Freelance Full Time Internship Part Time Temporary
There are no listings matching your search.

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Skaland Graphite Operation
Skaland is the only graphite mine in Scandinavia, the biggest crystalline graphite producer in Europe and
the fourth largest producer globally outside of China and accounts for around 2% of global annual
natural flake graphite production. Skaland is presently the world’s highest-grade operating flake
graphite mine with mill feed grade averaging ∼25%C. The Skaland graphite operation is located in
northern Norway on the island of Senja and is approximately 213km from TromsØ, the nearest major
town.
Graphite was first discovered in the area in 1870 and production started in 1917. Skaland Graphite AS
formerly extracted graphite ore from the Skaland mine which located directly alongside the existing
processing and port infrastructure, but since 2007, ore to the plant has been sourced from the nearby
Traelen mine.
Geology and Resources/Reserve
The updated JORC resource (2021) at the Skaland Graphite Operation for the underground Traelen
Graphite Mine in accordance with the Australian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (“JORC Code (2012)”) is estimated at 1.84 million tonnes at 23.6% TGC in
the category of indicated and inferred for 434kt of contained graphite using 10% cutoff (Table 1).
The Proven and Probable Ore Reserve was estimated in late 2021 from the Mineral Resource after
consideration of the level of confidence in the Mineral Resource and the consequence of relevant
modifying factors. Maiden Ore Reserve is estimated at 0.64 million tonnes at 24.8% TGC in the category
of proven and probable containing 159 kt of contained graphite by using 10% TGC cut-off grade (Table
2).
The Traelen deposit lies on the northern tip of the Skaland peninsula and consists of two main and
related lithological units. The tectono-stratigraphically lower unit is a banded gneiss with alternating
biotite-rich and granitic bands (locally termed “Traelen Gneiss”) and an upper unit that consists of
amphibolitic gneiss. These are heterogeneous hornblende gneisses with graphite horizons, possibly
metamorphic greywacke and calciferous rocks. Both units contain granitic orthogneisses, possibly as a
result of partial melting of the surrounding rocks. Quartz diorites and different types of pegmatites occur
as well, forming discontinous intrusions.
The graphite found in the upper unit is assumed to be primarily syngenetic and later exposed to tectonic
activity leading to its present textural, mineralogical, geochemical and geometric characteristics.
The mineralised horizon is isoclinically folded and the thickest, most continuous mineralisation occurs as
lens shaped bodies are oriented parallel to the main fold axis. This horizon contains the most
economically interesting instances of graphite at Traelen and can vary between centimetres and 12-14m
thick. There is minor graphite found in faults and along shears. There are minor exploration targets to
the south and west of the current Traelen deposit which may represent either a further fold of the same
horizon or a second mineralised horizon.
The rocks in the area have been exposed to at least three phases of folding and deformation with the
last folding phase responsible at Traelen with a fold axis dipping 30 to 90 degrees towards the west-
northwest. The existence of hypersthene, signs of partial melting and migmatisation and the
occurrences of coarse-grained flaky graphite all indicate high temperature metamorphism.
Mining
Mining is currently being conducted by long hole open stoping in a top-down sequence using 20m levels.
Processing
Crushed ore from the mine is dumped into a ROM ore bin and conveyed to an autogenous mill followed
by a front-end, open-ended milling circuit before processing via a three stage flotation and cleaner
circuit with multiple sub-stages in each stage The Skaland Processing Facility treated ∼40ktpa of ore in
2019 and produced a graphite flake concentrate of ∼91%C. The Company estimates that the Skaland
Processing Facility is operating at about 60% of nameplate capacity. A more conventional 85% utilisation
rate at the production rate of 2tph of concentrate would produce ∼15-16ktpa.
The product mix of graphite concentrate produced includes 36% of coarse (plus 150µm) material and
64% of fines (minus 150µm).
Table 3 – Current flake distribution and final concentrate grade
The Company has advanced initiatives to improve the quality of the fines fractions to at least a
conventional 94%-97% grade. It is also evaluating options to enhance the concentrate split to the coarse
fractions.
Optimisation/Increased Production
Pursuant to recently received regulatory approvals, the Skaland Operation’s production limit can be
increased to produce up to 16,000tpa.
The Company has conducted laboratory-scale testwork on optimising the grade of the fines (<150
micron) concentrate produced at Skaland. Results were highly encouraging with grades of 96%-99% TGC
achieved. Subsequently, this program has now progressed to pilot scale testwork to determine
equipment sizes required to produce high-grade concentrate.
Further testing has also generated flow sheet adjustments that have resulted in coarser size fractions
reporting above 150 microns.
The production of high-grade fines (150µm) will position Skaland as a supplier of high-quality fines
products that will form the feedstock for downstream value-adding, including the production of anode
material. Coupled with the expected increase in coarse graphite recovery, MRC expects to improve the
current basket price of Skaland graphite.
Bukkemoen, Hesten, and Vardfjellet graphite prospects
As a part of a broader strategy to secure new graphite deposits and expand future production of critical
battery raw materials at Senja in northern Norway, the Company entered into a binding agreement to
explore the Bukkemoen prospect in July 2020 and Hesten and Vardfjellet prospects in January 2021. The
Hesten and Vardfjellet are situated about 4km west of the Bukkemoen exploration prospect and are
approximately 15km southeast of MRC’s existing Skaland Graphite Mining Operation. Exploration is
ongoing.
About Norway
In Norway, 98% of electricity production comes from renewable energy sources. Hydropower is the
source of most of the production. With this vast resource of renewable energy, the country is becoming
one of the fastest-growing industrial platforms for executing zero-carbon business strategies.
Norway is also leading the way for a transition to low emissions in transport. Battery electric and plug-in
hybrid vehicles hold 50% market share of new cars registered in Norway. The speed of the transition is
closely related to policy instruments and a wide range of incentives.
By originating from Norway, Skaland Graphite AS is well placed to become the world’s first vertically
integrated, zero-carbon producer of Battery Anode Material, producing sustainable, environmentally
sourced natural anode material for the swiftest global adopters of electrification, right on the doorstep
of the fastest-growing global market in the world, Europe.
With the European and Nordic shift to decarbonised transportation, Skaland stands to become the
largest producer of sustainably sourced active anode material outside of China.
see Natural Anode Materials

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Investor Fact Sheet
Company Name
Mineral Commodities Ltd (MRC or the Company)
Business Description
MRC is a global mining and development company with a primary focus on the development of high-
grade mineral deposits within the mineral sands and battery minerals sectors.
The Company is committed to undertaking operations in a socially and environmentally responsible

manner that is consistent with industry best practice, and the safety and wellbeing of its people is core
to the operational culture. MRC is proud of the diversity of its global workforce of 350 employees and
the culture of safety and community it has fostered. MRC is committed to safe and sustainable business
practices which bring value to its employees, customers and shareholders and result in a social dividend
to local communities.
Munglinup Flake Graphite Project, Australia
As part of its graphite strategy, MRC is also investing in a downstream value-adding strategy targeting
the production of low CO2 emission, environmentally sustainable natural battery anode material from
both the Skaland and Munglinup natural flake concentrates. MRC’s anode strategy is targeting the
production of natural anode material from dedicated anode plants in Europe and Western Australia as
early as 2024, which aims to capitalise on the fast-growing demand for sustainably manufactured
Lithium-Ion Batteries.
Registered Office
Level 2, 161 Great Eastern Highway
Belmont, Western Australia 6104
Telephone: (+61) 8 6373 8900
Facsimile: (+61) 8 9373 8999
Email: [email protected]
Investor enquiries: [email protected]
Web address: www.mineralcommodities.com
Shares on Issue
691,455,941
Performance Rights
9,200,000
Market Listings
Australian Securities Exchange (ASX) Code: MRC
Chairman
Brian Moller
Board of Directors
Brian Moller
Russell Tipper
Debbie Ntombela
Zamile Qunya
Guy Walker
Company Secretary
Katherine Garvey
Share Registry
Link Market Services Ltd
Level 12, QV1 Building
250 St Georges Terrace
Perth, Western Australia 6000
Tel: 1300 554 474
Auditors
BDO Audit (WA) Pty Ltd
38 Station Street
Subiaco, Western Australia 6008
Tel: (+61) 8 6382 4600

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Mineral Commodities Ltd

MRC currently operates the:

Tormin Mineral Sands Operation, South Africa

Skaland Graphite Operation, Norway

and is developing the:

Munglinup Flake Graphite Project

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

Independent Non-Executive Chairman

Russell Gordon Tipper

Zamile David Qunya

Guy Redvers Walker

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

Chief Executive Officer

Chief Financial Officer

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

MRC’s corporate governance policies and procedures are below:

Corporate Principles and Code of Conduct

Code of Conduct – Stakeholders

Remuneration and Nomination Committee Charter

Audit, Compliance and Risk Committee Charter

Evaluation Procedure of the Board and its Committees

Risk Management and Internal Compliance

Selection and Appointment of Directors

Provision of Non-Audit Services

Securities Trading Policy

Statement of Corporate Governance

Mineral Commodities Ltd Constitution

Anti Bribery and Corruption Policy

Modern Slavery Statement

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

MRC Sustainability Policy

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia

T: +61 8 6373 8900 F: +61 8 6373 8999 E: [email protected]

Mineral Commodities Ltd

What are Mineral Sands?

How are Mineral Sands formed?

Source: Geoscience, Australia. https://www.ga.gov.au/education/classroom-resources/minerals-

High Grade Garnet Concentrate

High Grade Zircon/Rutile Concentrate

High Grade Ilmenite Concentrate

Medium Grade Ilmenite Concentrate

Zircon Rutile Concentrate

Mineral Commodities Ltd

Level 2, 161 Great Eastern Highway, Belmont 6104, Western Australia