InterGroup Mining Ltd is pleased to announce that it has signed an offtake agreement with the Traxys Group (www.traxys.com), covering the marketing and distribution of kaolin and metakaolin products produced from its Brumby Project in N Queensland, Australia. About Traxys Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management and trading activities are conducted by over 450 employees, in over 20 offices worldwide, and its annual turnover is in excess of USD 7 billion.
Headquartered in Luxembourg, Traxys is engaged in the sourcing, trading, marketing and distribution of non-ferrous metals, ferro-alloys, minerals, industrial raw materials and energy. The Group serves a broad base of industrial customers and offers a full range of commercial and financial services. Traxys, a privately held company, is owned by Traxys’ management team, The Carlyle Group (NASDAQ: CG), and affiliates of Louis M. Bacon, the founder of Moore Capital Management, LP, and Moore Strategic Ventures, LLC, Mr. Bacon’s privately held investment company
IGM is operating a mineral property within the Charters Towers region, in the north-east of Queensland, where it is currently developing a major gold and kaolin project, approximately 250km from the major seaport of Townsville. IGM has confirmed its commitment to explore for and to extract minerals under a net-zero agenda. The company is currently at the exploration and planning stage but confirmed that when production commences it will “go down a green path” for the kaolin deposits, which lie at surface level.
As of February 2022, IGM has completed initial drilling at two areas of its Brilliant Brumby project, which is approximately 2% of the identified area of potential kaolinised mineralisation on the 2,630ha property. The two areas, Surprise and Clydesdale, show an initial estimate of 9.2Mt kaolinised granite for 3.67Mt of contained kaolinite, with a comparative validation assessment for the wider 5% of the property that includes Surprise and Clydesdale indicating 47Mt kaolinised granite for 18.2Mt kaolin.
A product with great potential to fast-track decarbonisation in the cement and construction industry lies at the heart of InterGroup Mining’s hopes for its Brumby project in North Queensland. The Queensland company has been assessing the potential for kaolin extraction from the site to produce metakaolin suitable as a supplement in making cement and concrete. Townsville has been earmarked as the base for the metakaolin production facilities. Kaolin itself is a growth commodity, with usage patterns pointing to a steady 4.5 per cent per annum volume growth between 2020-2025 from existing markets.
“However, they do not take into account the potentially significant impact that metakaolin adoption by the cement and construction industry may have on overall demand; nor its use as an alternative feedstock in HPA production – now classed as a critical mineral in Australia,” an InterGroup spokesman said. “To explain, InterGroup is confident that metakaolin, which is produced from kaolin, will form a major component of the decarbonisation strategies adoptedby the cement and concrete sector as it seeks to meet its 2030 and 2050 emission reduction targets.
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An Australian company focused on exploring and extracting minerals essential to delivering a net zero emissions world.
IGM’s current focus is on developing a major high quality kaolin and gold project located in NE Queensland, Australia