Tronox announced that is has reached a settlement agreement on the pending Supreme Court Application by the Mtunzini Conservancy against Tronox KZN Sands, regarding the early works program at the Fairbreeze mine project in northern KwaZulu-Natal, South Africa. Under this settlement, the conservancy will not pursue its appeal on a ruling by the Durban High Court that denied an injunction to halt early-phase construction at the mining site. In turn, Tronox will not seek the court costs from the conservancy, as awarded in the High Court decision. Once in operation the Fairbreeze mine is expected to yield 475,000 metric tons of ilmenite and 60,000 metric tons of zircon per annum over a 12-15 year period. The Fairbreeze mine will preserve more than 1,000 permanent and contractor positions and create an additional 1,000 indirect jobs during the construction phase of the project.
- Durban High Court