Heavy Mineral Sands

Expansion into Heavy Mineral Sand Mining focuses on developing capabilities for extracting minerals such as Rutile, Ilmenite, Zircon, Garnet, Sillimanite, and Monazite.
These minerals serve as feedstock for Titanium Oxide pigments, Titanium metal production, and welding electrodes, with plans to produce Titanium slag as an intermediate product.*
Four exploration licenses obtained in Sri Lanka; further applications in progress, Operations expected to commence by Fiscal 2027, pending environmental clearances

4 exploration licenses acquired in Sri Lanka
Exploration reports approved by Sri Lanka's Geological Survey and Mines Bureau.
Serving expanding Indian and global markets, with operations set to commence in FY 2027.

*Source: CRISIL Report

Market & Growth

Heavy mineral sands contain key minerals such as ilmenite, rutile, zircon, and monazite, which are crucial for titanium-based products in industries like aerospace, electronics, and paints.
Midwest has expanded its heavy mineral sands operations through its subsidiaries in Sri Lanka, with a planned production capacity of 37,000 MTPA, strengthening its presence in the global market.
India plays a significant role in the heavy mineral sands market, with deposits concentrated along coastal areas.

Rutile: Rutile production by FY29P: 16.1-17.1 KT, India. Global Rutile production by 2028P: 516-586 MT.*555
Garnet: Global industrial garnet production was 971 KT in 2022; domestic abrasive garnet increased to 8.2 KT.*555
Zircon: Global zircon production to reach 1,767-1,810 KT by 2028, growing at a CAGR of 2.0-2.5% Zircon Domestic Ilmenite production to reach 950-1,002 KT by 2029; global production to reach 9,735-9,974 MT by 2028.* 555
Ilmenite: Domestic Ilmenite production to reach 950-1,002 KT by 2029; global production to reach 9,735-9,974 MT by 2028.*555
Monazite: Monazite is a rare mineral. As per IBM, the production of monazite stood at 69.75KT in fiscal 2020.*555

Rutile: Rutile production by FY29P: 16.1-17.1 KT, India. Global Rutile production by 2028P: 516-586 MT.*
Garnet: Global industrial garnet production was 971 KT in 2022; domestic abrasive garnet increased to 8.2 KT.*
Zircon: Global zircon production to reach 1,767-1,810 KT by 2028, growing at a CAGR of 2.0-2.5% Zircon Domestic Ilmenite production to reach 950-1,002 KT by 2029; global production to reach 9,735-9,974 MT by 2028.*
Ilmenite: Domestic Ilmenite production to reach 950-1,002 KT by 2029; global production to reach 9,735-9,974 MT by 2028.*
Monazite: Monazite is a rare mineral. As per IBM, the production of monazite stood at 69.75KT in fiscal 2020.*