VRX Silica eyes Asian market with high-quality silica sand for solar panels
March 13, 2024 at 11:46 am EDT
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VRX Silica Ltd (ASX:VRX) managing director Bruce Maluish tells Proactive's Stephen Gunnion the Perth-based company is focused on developing silica sand projects in Western Australia, targeting primarily the export market to Asia and exploring opportunities for glass manufacturing locally.
The company sits on about 1.4 billion tonnes of resources, with recent supply-side shifts in Asia enhancing the viability of Australian silica sand due to increased prices that can now offset shipping costs. The demand for silica sand, crucial for glass making, is rising as large deposits in Asia are either depleted or access is restricted, especially the high-quality sand from freshwater sources.
Maluish said VRX Silica boasts sand quality exceeding 99% silicon dioxide, with a particular deposit suitable for ultra-clear glass production for solar panels, a market growing at about 30% annually. The company also sees potential in the downstream industry, leveraging Western Australia's abundance of necessary raw materials and cheap LNG for glass production. Despite Western Australia's mining focus, the demand for solar panels and the region's vast solar resources underline the importance of diversifying into manufacturing.
VRX Silica leads with its Arrowsmith North project, which is close to obtaining environmental approvals, crucial for mining in the region. The company anticipates starting construction following approvals and aims for first production by early 2025. Key upcoming milestones include environmental approval, project financing, and the commencement of production.
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VRX Silica Limited is an Australia-based silica sand company. The Company is focused on supplying the global demand for silica sand. The Companyâs projects include Arrowsmith North Silica Sand Project, Muchea Silica Sand Project, Boyatup Silica Sand Project and Arrowsmith Central Silica Sand Project. The Arrowsmith North is located about 270 kilometers (km) north of Perth, Western Australia, and adjacent to the Brand Highway and Geraldton-Eneabba railway. The Muchea Silica Sand Project is located approximately 50 km north of Perth. The Boyatup Silica Sand Project is located about 125 km east of Esperance in Western Australia and is connected by sealed road to the Esperance Port. The Arrowsmith Central Silica Sand Project is located just 30 km from the Arrowsmith North Project and is similar in its grade purity and access to road and rail. The project is immediately adjacent to the Eneabba-Geraldton rail line and bulk export products from Geraldton.