13 November 2012 18:01 [Source: ICIS news]
HOUSTON (ICIS)--Tronox may delay development of its Fairbreeze mineral sands mining project in South Africa to conserve cash in current market conditions, but it aims to develop the project over the long-term, the CEO of the US-based titanium dioxide (TiO2) firm said on Tuesday.
“[Delaying Fairbreeze] is something we would have a responsibility to consider,” Tom Casey said in response to an analysts’ question during Tronox's third-quarter results conference call.
“Right now, we have just begun preliminary work on road work and things like that, so we are not fully active yet in developing the mine,” he said.
Also, Tronox needs to get South African government permits in order to proceed, he added.
“So, right now [Fairbreeze] is not a pressing issue, but we plan for the long-term in this business, and Fairbreeze would be a valuable asset for us over the long-term,” Casey said.
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