MRG Metals (ASX:MRQ) and its joint venture partner, Sinowin Lithium, have unveiled a definitive development roadmap for the massive Corridor Sands Heavy Mineral Sands Project in Mozambique.
The plan targets March 2027 for the commencement of initial production at the site, which holds an estimated resource of 2 billion tonnes.
Development reached a major milestone on Jan. 27 with the approval of the Environmental and Social Impact Assessment permit for Corridor Central.
Sinowin has already invested over US$1 million in preparatory works and remains committed to sole-funding the project through to the production of 220,000 tonnes per annum of concentrate.
The partners are targeting a first-year output of 130,000 to 160,000 tonnes of heavy mineral concentrate, with an ambitious five-year goal to scale production to 800,000 tonnes per annum.
Next steps include the completion of the Resettlement Action Plan by June, which will trigger the formal transfer of mining licenses.
At the time of reporting, MRG Metals' share price was $0.0050.