David Lowell claims to have discovered a titanium deposit so large that it will allow him to dictate the world market.
The American explorer who discovered the world’s biggest copper deposit in Chile has staked a claim in Paraguay to what he says may be the largest titanium find.
David Lowell, 82, the president of closely held CIC Resources Inc., controls mineral rights to at least 185,000 hectares (457,000 acres), according to Paraguay’s sub-ministry of mining and energy. That is an area the size of London.
“Our deposit could control the world titanium market, a big enough piece of production that whoever operates it would dictate what the price is going to be,” Lowell said in an interview. “And the price, presumably, would be reduced by having higher-grade ore and large tonnage.”
The geologist is in Hong Kong this week presenting his discovery to investors at a conference on the global titanium market sponsored by TZ Minerals International, a Western Australia consulting firm that specializes in the mineral. The project could produce between 5 and 10 million tons of titanium ore per year with a potential operating life of 100 years, he said today outside the conference.
I want to corner the world market in something. Hmmm....
(HT: Business Insider and SR.)