Bluejay’s Dundas may be attractive to Rio Tinto – SP Angel

The closure of Rio Tinto’s South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining PLC, which is developing the Dundas ilmenite project, in Greenland.

The project is said to be the highest-grade ilmenite asset in the world and the geographic location of Greenland – strategically located between North America and Europe – provides Dundas with a significant cost advantage over RBM, or other African, operations.

Analysts at London investment bank SP Angel said in a note on Wednesday that the violent intimidation at the South African operation might force Rio Tinto to find new supply for its Quebec ilmenite and titanium business in Canada.

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