We are developing the Taprobane Minerals Project in Sri Lanka containing ilmenite, rutile, zircon, and garnet. Ilmenite and rutile are used to make pigments, coatings, and titanium metal. Zircon is used in ceramics, refractories, and in nuclear and industrial applications, while garnet is mainly used as an abrasive.
Our project is one of the highest-grade undeveloped deposits of heavy minerals in the world, with potential for expansion.
As Sri Lanka’s most advanced mineral sands project, Capital Metals is committed to applying modern extraction practices and bringing positive benefits. We expect to create over 300 direct new jobs and generate over US$200 million in royalties and taxes.
With the backing of key stakeholders, including Sri Lanka’s Ambeon Capital, Capital Metals is preparing to start construction in 2026, with first production in 2027.
Mission
We develop mineral resources through ethical and leading practices that uphold environmental stewardship and deliver sustainable stakeholder value.
Strategy
Capital Metals is fully funded beyond Final Investment Decision and is engaging with banks, offtakers and other investors to provide project debt and equity.
Grade
Super high grades enable lower capex and opex, with higher recoveries and operational simplicity due to the smaller plant.
Simplicity
Excellent metallurgical performance enables straightforward plant design with high recoveries.
Environment
Low-impact footprint due to modest extraction volumes. No blasting or chemicals. Constant rehabilitation of mined areas.
Economics
A Base Case IRR of 73% and NPV8 of $180 million provides considerable upside potential. Our stage 1 capex to become self-funding is just US$17.7 million.
Upside
High resource growth potential with deposit open at depth and laterally.