The Company was founded by Charles and Michael Carvill in 1986 to exploit mineral wealth in Mozambique. A tailings dam from mineral processing failed on 8 October 2010, destroying a nearby native village and leaving one 4 year old child missing; mining resumed the following month after some 300 homes had been rebuilt.
The Company's principal asset is the Moma mineral sands mine located in Mozambique which has been in production since late 2007. The mine produces 7% of the world’s ilmenite, the main source of titanium metal and titanium dioxide used as a white pigment in paint. It also produces 4% of the world’s zircon, a source of zirconium metal.