In 2009, Casaforte launched the Casaforte Mining Fund, structured as an investment and mining project development company, the Casaforte Minerios S.A. (CFM)
CFM’s goal is to add value to its mineral assets through investments in geological research and processing technology in order to sell the developed projects or to invest in their implementation and operation. To achieve that, the Company has assembled a team with an extensive and highly successful track record in the sector, and that has participated in the development of several of the largest mineral projects in Brazil.
The company prioritizes investments in minerals of metals such as aluminum, lead, copper, chromium, tin, iron, manganese, niobium, nickel, titanium, vanadium, and zinc; minerals of precious metals such as gold, silver, and platinum; and fertilizers such as phosphate and potassium.
After analyzing numerous projects, CFM decided to develop a single project: titanium mineral (ilmenite) in the city of Floresta, state of Pernambuco.
The company TIASA was create to finish the development and to impleent the ilmenite project. The company’s goal is to mine, concentrate and process ilmenite ore to produce titanium dioxide pigment to be used in the production of paints, plastics, paper, and cosmetics.
The company invested in geological research, to guarantee a long-term mineral supply, and in the development of a proprietary technology to process the concentrated mineral, producing a high value-added final product. The technology has been patented and tested in pilot plant.
The mining and concentration operation will be placed in Floresta/PE. The location of the titanium dioxide pigment plant is in the final phase of studies.
The initial production capacity will be of 15 thousand metric ton/year of pigment. The operation is expected to start in 2021.
The mineral resources already proven are sufficient to supply this level of production for 70 years and additional geological studies are being done to increase the volume of proven resources.
New investments to triple the capacity are planned after 5 years of operations.