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Geologist David Lowell, 82, claims to have found the world's largest titanium deposit.
Lowell says his company controls mineral rights to at least 185,000 hectares (457,000 acres) in Paraguay, about the size of London.
“Our deposit could control the world titanium market, a big enough piece of production that whoever operates it would dictate what the price is going to be,” Lowell said. “And the price, presumably, would be reduced by having higher-grade ore and large tonnage.”
Lowell’s claim is in the Alto Parana district in eastern Paraguay near Brasil. His ore is ilmenite, the type predominately used in China. Some of the world’s largest known deposits of ilmenite are in Mozambique, Madagascar and South Africa. Continental Africa accounts for half the world’s supply.
