Industrial Minerals (ASX:IND) has reported that its flagship Stockyard High Purity Silica Sand (HPSS) Project near Eneabba and Esperance East Exploration Project, both in WA, can be successfully beneficiated to meet photovoltaic (PV) solar panel glass specifications.

The company said the HPSS market, which feeds directly into PV solar panel end-users, is expected to grow at the rate of 30.72% annually until 2029.

Industrial Minerals holds 100% of 20 High Purity Silica Sand projects and six complementary industrial mineral projects across the state.

Shares of the company closed up 17% today.