Combined annual report for period 1 January 2010 to 31 December 2010 MLN 719 - 725 and MCN 273 Mathison Creek Barite

Abstract

No work has been undertaken during the current reporting period, although Sibelco has defined a resource and considers Mathison Creek an important strategic barite resource. Numerous factors are present that inhibit the exploitation of barite from the site. These include the depressed market conditions for OD (Oil Drilling) grade barite. The current distribution of barite markets, lack of existing infrastructure and cost advantage of other supplies.