White Mountain Titanium Corp. issued an operational update on the company’s titanium mining property in South America. The company also provided fundamental information on supply and demand trends in the worldwide titanium market.
White Mountain Titanium owns 38 mining concessions consisting of approximately 8,225 hectares at the Cerro Blanco project in Chile. The company is currently exploring at the Las Carolinas prospect on its properties.
White Mountain Titanium completed an infill drilling program at the prospect in April 2011 and is currently updating the company’s resource model and designing a mining program. The drill program obtained approximately 7,000 meters of samples from 54 drill holes.
White Mountain Titanium has also hired Arcadis Geotechnica, an environmental consultant, to monitor the property in anticipation of filing an environmental impact study.
The management of White Mountain Titanium believes that the markets for titanium pigment and feedstock will stay strong over the next few years due to a shortage in supply and excess demand from many parts of the world.
White Mountain Titanium reported that double digit price increases have been instituted by major producers in the market and that capacity increases are not high enough to keep up with demand.
For more information on the company, go to www.wmtcorp.com