Andromeda Metals (ASX:ADN) has signed a heads of agreement (HoA) to pursue business opportunities linked to the Indian industrial minerals market including kaolin distribution and potential distribution of kaolin-zircon mixtures.
The non-binding HoA is with privately held Opaque Ceramics, an Indian company based in Ahmedabad in the state of Gujarat, which began trading zirconium silicate opacifiers in 1978.
It has since grown to become one a global ceramic mineral technology companies with its range of micronised zircon products. Opaque manufactures a range of zircon-based products and has an extensive global distribution network, centred around India’s major ceramics production centre of Morbi, that according to its website covers over 1,000 tile producers and 500 sanitaryware firms.
The HoA provides that binding offtake agreements are to be negotiated expeditiously and in good faith, following a framework for end use customer acceptance and validation.
The Indian market is the second largest ceramics market in the world, with ceramic tile production in 2024 forecast to be 3.3 billion square metres, growing at a compound annual growth rate (CAGR) of 9-10%.
India’s growth is supported by it being the world’s most populous country, having recently overtaken China, and an average economic growth rate of 5.5% per annum over the past decade, which has led to it overtake the UK to become the world’s fifth largest economy.
Opaque’s mission is to be open to any strategic alliance that can result in win-win solutions for all parties involved while putting a priority on quality, consistency, and value creation.
Since its establishment in 1978, trading in zirconium silicate opacifiers, Opaque has advanced, securing its position in the domestic Indian and international markets by gradually increasing capacity, implementing innovative new technologies, and building state-of-the-art laboratory, research, and manufacturing facilities and infrastructure.
Opaque’s extensive range of zircon-based products are used widely to opacify (or whiten) ceramics.
Write to Adam Orlando at Mining.com.au
Images: Andromeda
