LONDON (Alliance News) - Bluejay Mining PLC said Tuesday it has signed an agreement with Rio Tinto Iron & Titanium Canada Inc, for the analysis of Ilmenite from its Dundas project in Greenland.
Rio Tinto Iron & Titanium Canada is part of Rio Tinto PLC. It produces high-grade titanium dioxide feedstock from operations in Canada, South Africa and Madagascar.
Under the agreement, Rio Tinto Iron & Titanium will analyse ilmenite from the project and will work with Bluejay to review and improve on technical work that has been completed on Dundas to date.
Rio Tinto Iron & Titanium holds the option to terminate the agreement at any time, and Bluejay stressed that there was no guarantee that the ilmenite assessment will lead to a long-term relationship between both companies.
"We are delighted to be working with Rio Tinto, and this summer one of the key-outcomes will be the delivery of a large bulk-sample to the Sorel-Tracy plant. We believe that the ilmenite from Dundas will prove to be a very valuable material for the Sorel-Tracy plant operation and believe that the experience and expertise from Rio Tinto will provide an opportunity for technological and economic optimization," said Bluejay Chief Executive Officer Roderick McIllree.
Shares in Bluejay Mining were down 0.5% at 10.10 pence on Tuesday.
Rio Tinto (RIO)
Bluejay (JAY)
