Tertiary Minerals Plc (AIM: TYM) said today it had achieved “a breakthrough” at its Storuman Fluorspar deposit in Sweden.
In an update, the company said recent tests at a Canadian laboratory had shown a saleable concentration of the highest value grade of fluorspar in high volume commercial use.
Previous tests in the 1970s found that the fluorspar at Storuman was not suitable for plants producing hydrofluoric acid.
Tertiary said in a statement: “The latest test, carried out on more coarsely ground material has produced saleable fluorspar concentrate within the grain size limits required by acid-grade consumers.
“Further tests are in progress to evaluate other metallurgical parameters, including fluorspar recovery, and to provide information for operating and capital cost estimates.”
Tertiary hopes to produce 100,000 tonnes of acid grade fluorspar every year and says there is a ready market in Europe because Chinese suppliers are exporting less because of high domestic demand.
Tertiary shares rose 9 per cent today to 3p.