David Lowell, 82, president of CIC Resources (www.cicresources.com), controls the mineral rights in around 185 000 hectares (457 000 acres), according to Paraguay’s Sub Ministry for Mining and Energy. That is an area the size of London and reserves could total 21 billion tonnes of ore.

Meanwhile, figures from the US Geological Survey (USGS) show strong titanium shipment levels that underscore the strength of this year’s turnround. Data for the second quarter shows a 51.9% jump in mill product shipments to 11 500 tonnes from 7 570 tonnes in the same period of 2009.