What we own
Together with Orion Mineral Royalty Fund (‘Orion’), we entered into a financing agreement with Incoa Performance Minerals LLC (‘Incoa’) in 2020, whereby Ecora Resources may contribute $20m to Incoa’s calcium carbonate mine in the Dominican Republic and processing facility in Alabama, USA, following construction completion and a number of other conditions precedent, in exchange for ~1.23% of gross revenue from the project.
The Incoa project consists of a calcium carbonate mine and associated infrastructure in the Dominican Republic and a processing facility located in Mobile, Alabama.
Incoa continue to advance the project albeit ramp-up to project completion has been slower than anticipated. Funding by Ecora is expected to take place before calendar year 2024.
About calcuim carbonate
Ground calcium carbonate is a widely used industrial mineral. Particle size, colour and chemical purity define the quality of the ground calcium carbonate and the suitability of use for a wide variety of applications. Incoa will produce high quality ground calcium carbonate products suitable for use in a variety of end markets. High quality ground calcium carbonate is used as a functional filler agent in various end products, including sealants and caulks, adhesives and rubber, and as an active ingredient in food and pharmaceutical products which primarily serve to supplement dietary calcium consumption amongst other end products.