$Why $50 million is being spent restarting a WA zircon mine Image Resources has invested more than $50 million to bring its Atlas mineral sands project back into full production, around 180 kilometres north of Perth in Western Australia. The Atlas project replaces the company’s earlier Boonanarring operation and began production in 2025, reaching full capacity shortly after commissioning. What the Atlas project produces The mine produces heavy mineral concentrate (HMC), a mix of minerals that includes zircon, ilmenite and rutile. Zircon is the key revenue driver, historically accounting for the majority of value generated at Image Resources’ operations. Zircon is used in ceramics, foundry casting, refractory materials and a range of industrial and high-temperature applications. Why the economics stack up Atlas was developed using existing infrastructure from the Boonanarring mine, keeping capital costs relatively low. The project also has a short mine life, meaning capital recovery is targeted over a shorter timeframe rather than across decades. With global zircon supply tightening and few new mines coming online, the restart is positioned as a near-term cashflow operation rather than a long-dated expansion. Is zircon back on the radar? Zircon has received less attention than lithium or rare earths in recent years, but steady demand and constrained supply are pushing prices and margins into focus again. For Image Resources, the Atlas restart is a measured bet: limited capital, defined mine life and exposure to a mineral quietly regaining strategic importance. Whether zircon continues to justify new investment will depend on market conditions — but for now, the numbers appear to make sense.$

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