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 invest in two opportunities: iron ore in Custodia/PE and titanium in Floresta/PE
The project objective 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, among others.
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 60 thousand mton/year of pigment. The start of the operation is expected in 2019.
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 double the capacity to 120 thousand mton/year are projected after 5 years of operation.