Venezuelan state mining authority IAMIB and Russian company Ruscaolin have wrapped up the feasibility study for a project to mine and process kaolin.
"The next step is to decide where the plant will be located and a couple of possibilities are Canaima and Punta Cuchillo," in Guayana region, an official from state heavy holding company CVG, which controls IAMIB, told BNamericas.
The project will produce nearly 500,000t/y of kaolin and Ruscaolin is slated to be the company in charge of carrying out investments, estimated at roughly US$190mn.
For its part CVG, through IAMIB, will contribute mining areas in the Sifontes area of Bolívar state where there are major kaolin clay deposits.
Kaolin is used in paint, insulators and rubber, in addition to fertilizers, pesticides, animal feed, paper production and pharmaceuticals.
IAMIB acts as the authority for industrial minerals mining in Bolívar state. It exercises exclusive control over construction rocks, decorative stones and any other non-precious materials including marble, kaolin, clay, granite, sand, slate and limestone.