Fortescue Chief Executive Officer (CEO) Nev Power holds a piece of iron ore in front of a remote-controlled truck at the Fortescue Solomon iron ore mine
IN PHOTO: Fortescue Chief Executive Officer (CEO) Nev Power holds a piece of iron ore in front of a remote-controlled truck at the Fortescue Solomon iron ore mine located in the Sheila Valley, around 400 km (249 miles) south of Port Hedland in the Pilbara region of Western Australia, December 2, 2013. Miner Fortescue Metals Group Ltd, which holds some of the world's biggest reserves of iron ore, will call a temporary end to growth next year until it pays off billions of dollars in debt used to fund massive expansion work. REUTERS/David Gray

Australian mining expert Stephen Fityus visited India to establish ties with and explore areas for collaboration with mining research organisations in the country.

"This visit has enabled a deeper two-way understanding of the mining capabilities in our countries and I see immense potential in academic and research collaboration in this area between Australia and India," The University of Newcastle professor and mining and geotechnical engineering expert told The Economic Times.

Australia's High Commissioner to India Patrick Suckling noted that the visit will put a spotlight on talks that both country had with regards to possible partnerships. "In particular, this visit will address both our Prime Ministers' stated desire to explore partnerships with the Indian School of Mines in Dhanbad, as indicated in their joint statement during Prime Minister Modi's visit," Suckling told the paper.

Australia's mining industry is in a rut lately due to a slump in iron ore prices, according to several reports. Due to a slowdown in China's steel demand, iron prices have plunged from US$190 [$239] in 2011 to $50 [$63] a tonne, forcing smaller miners to close shop.

"Western Australia was the big beneficiary of the China boom," Chris Richardson, economist at Deloitte Access Economics, told The Financial Times. "But it is suffering now as the mine construction phase ends and commodity prices fall amid a surge in iron ore supply and faltering demand."

The titanium segment is a different story for the country, however. CSIRO believes the country could be a titanium leader by streamlining its titanium processing, according to a report on The Age. CSIRO director for high performance metals John Barnes told the news outlet that he and his team have been working on a new refining process that will convert titanium into metal directly than following the metallurgic route. "We want to alter the cost basis so industry can make more money at it," he said.

In the country, one of the biggest producers of titanium is Iluka Resources, Ltd. (ASX:ILU), which accounts for 10 percent of the titanium dioxide products globally, according to Bloomberg. There are also other substantial projects in the industry including White Mountain Titanium Corporation's (OTCQB:WMTM) Cerro Blanco project in the Atacama Region of Chile and Sierra Rutile Limited (LSE:SRX) in Sierra Leone. White Mountain's Cerro Blanco project, in particular, is set to produce 112 million tonnes of rutile, with a projected annual output equivalent to 80,000 tonnes. The company said it could produce over 130,000 tonnes of rutile onwards from the mine's fourth year of production.

Barnes added that despite the size of the Australia's industrial infrastructure, the mining industry has the capacity to do so. "If you look at a similar material system like nickel, we certainly have the know-how," he said in the report. "There's a bit of a different skill set as opposed to what we do with steel and nickel, but those skills are adaptable so it's certainly not in the too-hard box."

Contact the writer: a.lu@ibtimes.com.au

RELATED STORIES