Maclaren Minerals

What Maclaren Minerals does

McLaren Minerals Limited (ASX: MML) is an Australian mineral exploration and development company headquartered in Perth, Western Australia, focused on advancing a portfolio of heavy mineral sands and silica sand projects. The company was previously known as Allup Silica Limited and rebranded to reflect its strategic pivot toward titanium and heavy minerals. Its core asset is the McLaren Titanium Project in the Eucla Basin of Western Australia, which holds a JORC (2012) compliant Indicated and Inferred Mineral Resource of 529Mt at 4.5% Heavy Mineral (23.7Mt in-situ HM). A Pre-Feasibility Study completed in January 2026 forecasts A$2.78 billion in total revenue and A$899.7 million in EBITDA over an initial 15.9-year mine life. The company's second material asset is the Barossa Project, acquired from Iluka Resources Limited in December 2025, located in the eastern Eucla Basin of South Australia approximately 90km southeast of Iluka's Jacinth-Ambrosia mine, with historical HM grade of ~4.6% dominated by ilmenite (~60%), zircon (~16%), and rutile (~2%). The company also retains the Sparkler high-purity silica sand project in south-western Western Australia with a JORC 70Mt Inferred Resource.

The company's underlying technology centres on heavy mineral sands processing for the extraction of titanium minerals (ilmenite, rutile), zircon, and silica sand. Its approach combines JORC-compliant resource estimation, conventional drilling and metallurgical testing, and pre-feasibility-level mine design. As of mid-2026, McLaren is executing a 13,000m definition drilling campaign to upgrade resource classification (Inferred to Indicated, Indicated to Measured) ahead of a planned Bankable Feasibility Study, with Phase 2 drilling reporting heavy mineral grades up to 34.6% HM and identifying a new extension zone southeast of the existing resource. The business model is presently pre-revenue; the company funds exploration and feasibility work through equity raises on the ASX (most recently a December 2025 entitlement offer raising A$3.6 million against A$4.2 million in applications). The intended end customers are global titanium, zircon, and silica buyers serving aerospace, defence, clean energy, and industrial end-markets, with revenue expected to be generated through future mining and sale of heavy mineral concentrates once production commences. The board is led by Non-Executive Chairman Michael Arnett (also Chair of NRW Holdings), Managing Director Simon Finnis (35+ years mining experience, prior CEO of Metro Mining and the US$650m Grand Cote Mineral Sands Project), and Non-Executive Director Peter Secker (40+ years mining engineering, including design and operation of TiWest at Cooljarloo).

Name

Maclaren Minerals

Legal name

McLaren Minerals Limited

Website

https://mclarenminerals.com.au

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

McLaren Minerals Limited (ASX:MML) is an Australian mineral exploration and development company advancing the McLaren Titanium Project in Western Australia's Eucla Basin and the Barossa zircon-rich sands project in South Australia toward production.

Ownership category

akta.pro rank

Product category

Heavy Mineral Sands Mining

NAICS

Industrial Sand Mining (212322), Other Nonmetallic Mineral Mining and Quarrying (212390)

SIC

Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Heavy mineral sands exploration
• Titanium mineral mining
• Zircon and rutile extraction
• High purity silica sand
• Critical minerals development

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Mineral Sands Production: McLaren Minerals plans to generate revenue through mining and processing of heavy mineral sands, primarily titanium minerals (ilmenite and rutile), zircon, and other by-products. The January 2026 pre-feasibility study projected total revenue of A$2.78 billion over an initial mine life of 15.9 years.

Go-to-market motion2 records

Marketing channels3 records

Core offering

McLaren Minerals is a pre-production mineral exploration and development company focused on heavy mineral sands resources containing titanium minerals (ilmenite, rutile), zircon, and silica sand. Its flagship asset, the McLaren Titanium Project in the Eucla Basin of Western Australia, hosts a JORC-compliant Indicated and Inferred Mineral Resource of 529Mt @ 4.5% Heavy Mineral (23.7Mt in-situ HM), with a completed Pre-Feasibility Study projecting A$2.78bn revenue and A$899.7m EBITDA over an initial 15.9-year mine life. The portfolio also includes the Barossa Project (zircon-rich heavy mineral sands in South Australia) and the Sparkler silica sand project in Western Australia.

Product overview

McLaren Minerals is a mineral exploration and development company with a portfolio of three distinct mining projects. The McLaren Titanium Project (core focus) is an advanced-stage heavy mineral sands development targeting titanium minerals in the Eucla Basin of Western Australia, supported by a completed Pre-Feasibility Study and 529Mt resource base. The Barossa Project (acquired December 2025) is a zircon-rich exploration-stage project in South Australia that broadens commodity exposure. The Sparkler Project is a high-purity silica sand project in Western Australia withJORC-compliant resources. These projects collectively position the company to serve critical mineral demand in aerospace, defence, and clean energy sectors.

Differentiator

Problem solved

Functional benefit

Brands

• McLaren Titanium Project: Advanced-stage titanium/heavy mineral sand development project in the Eucla Basin of Western Australia with JORC-compliant resource of 529Mt at 4.5% HM
• Barossa Project
• Sparkler

Products and services

• McLaren Titanium Project Advanced-stage heavy mineral sands project in the Eucla Basin of Western Australia, hosting a JORC (2012) compliant Indicated and Inferred Mineral Resource of 529Mt @ 4.5% HM (23.7Mt in-situ HM). Intended for eventual production and sale of titanium minerals (ilmenite, rutile) to global aerospace, defence, and energy customers.
• Barossa Project Zircon-rich heavy mineral sands tenure package in the eastern Eucla Basin of South Australia, located approximately 90km south-east of Iluka's Jacinth-Ambrosia mine. Currently at exploration stage; intended to broaden the company's commodity exposure to zircon in addition to titanium minerals.
• Sparkler Project High-purity silica sand project in south-western Western Australia, approximately 150km from Albany Port and 300km south of Perth, with a JORC 70Mt Inferred Minerals Resource Estimate of high-purity silica. Intended for sale into industrial silica sand markets.

Quantifiable outcome

• Total revenue forecast of A$2.78 billion over 15.9-year initial mine life
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Iluka Resources LimitedcoreOthers · 1 December 2025McLaren Minerals acquired the Barossa Project from Iluka Resources Limited in December 2025. The project comprises strategically located heavy mineral sands tenure in the eastern Eucla Basin of South Australia, approximately 90km south-east of Iluka's Jacinth–Ambrosia mine. The acquisition includes Kalahari, Mojave and Gobi prospects, which were defined through systematic exploration programs between 2008 and 2019. The project has historical mineralised zones with average HM grade of approximately 4.6%, dominated by ilmenite (~60% of HM), zircon (~16%) and rutile (~2%).

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Tronox Holdings plc: Global integrated titanium dioxide producer and HMS miner with operations across Australia (including the acquired Sheffield/Thunderbird), South Africa and Brazil. A vertically integrated incumbent in the same titanium mineral value chain McLaren targets.

Direct peers

• Mineral Commodities Ltd: ASX-listed HMS developer/producer with the Tormin mine in South Africa producing ilmenite, zircon and rutile. Comparable junior HMS miner targeting the same mineral suite as McLaren's projects.
• Base Resources Limited: Operator of the Kwale HMS mine in Kenya producing ilmenite, rutile and zircon. Comparable HMS producer with similar mineral assemblage and a publicly available operating track record relevant to benchmarking McLaren's PFS economics.
• Iluka Resources Limited: Australia's largest HMS producer, operating the Jacinth-Ambrosia zircon mine in the same Eucla Basin as McLaren. Iluka sold the Barossa Project to McLaren in December 2025 and is the closest direct comparison given shared geography and commodity focus.
• Kenmare Resources plc: Operator of the Moma HMS mine in Mozambique, producing ilmenite, zircon and rutile. Closely comparable single-asset HMS producer with a publicly disclosed operating cost base and similar commodity mix.
• Image Resources NL: ASX-listed HMS producer operating the Boonanarring mine in Western Australia's North Perth Basin. Directly comparable ASX-listed junior HMS producer/developer in Australia at similar stage of project lifecycle.
• Sheffield Resources (Tronox Holdings subsidiary): Developed the Thunderbird HMS project in Western Australia, now owned by Tronox following a takeover. Comparable as a WA-based HMS developer with a similar ilmenite, zircon and rutile product suite to McLaren's McLaren Titanium Project.
• Strandline Resources Limited: ASX-listed developer of the Coburn HMS project in Western Australia. Directly comparable ASX-listed junior at the development/feasibility stage targeting ilmenite, zircon and rutile production from Australian mineral sands.
• Astron Corporation Limited: ASX-listed developer of the Donald HMS project in Victoria, Australia, targeting ilmenite, zircon and rutile. Comparable ASX-listed Australian HMS developer at a similar pre-development stage to McLaren.

Others

• Deterra Royalties Limited: ASX-listed royalty company with material exposure to HMS via its royalty over Iluka's Mining Area C operations. Indirectly comparable as an investor exposure route to Australian mineral sands economics, though structurally different (royalty rather than operator).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/McLarenMinerals
• LinkedInlinkedin.com/company/mclaren-minerals

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Maclaren Minerals