ASX : HVY
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Aerial view of the Kanmantoo tailings site, South Australia, where HVY targets first garnet production Q4 2026
ASX : HVY · INDUSTRIAL MINERALS

Nearing Garnet Production in Australia

Three Australian Garnet Projects and a number of exploration targets. 5.9 Mt of contained Garnet at Port Gregory and a tailings processing agreement at Kanmantoo Mine targeting first production Q4 2026.

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Company snapshot

Industrial Minerals, Australian-built.

Heavy Minerals Limited (ASX: HVY) is an Australian-domiciled industrial minerals developer with a current focus on garnet. Incorporated in Australia in 2021, the company combines a near-term live tailings processing pathway at Kanmantoo (Hard Rock Garnet) with two large WA Alluvial Garnet projects at Port Gregory and Red Hill, plus an inferred resource position at Inhambane in Mozambique (non-Garnet).

Our Projects

Four projects, one great story.

Kanmantoo tailings site, South Australia, partnered with Hillgrove Resources (ASX:HGO)
Production Q4 2026

Kanmantoo

South Australia · State Processing Agreement with HGO

Tailings retreatment agreement with Hillgrove Resources (ASX: HGO). Target 50 ktpa Garnet, scalable to 100 ktpa.

GARNET TARGET 50-100 ktpa
 Aerial photograph of the Port Gregory garnet project, Western Australia
Flagship -- PFS

Port Gregory

Western Australia · 100%

JORC MRE 166 Mt @ 4.0% THM, 5.9 Mt contained Garnet. PFS nearing completion; bordering GMA Garnet and Lucky Bay.

CONTAINED GARNET 5.9 Mt
 Red Hill exploration project site, Western Australia, adjacent to Port Gregory
Exploration

Red Hill

Western Australia · 100%

Exploration Target 90-150 Mt @ 5.4-4.1% THM. Composite samples in assay; JORC MRE in definition.

GARNET EX. TARGET 90-150 Mt
 Heavy mineral sands position at Inhambane, Mozambique, neighbouring Rio Tinto's Mutamba project
Inferred MRE

Inhambane

Mozambique · 70%

JORC Inferred 90 Mt @ 3.0% THM. Borders Rio Tinto's Mutamba project.

INFERRED 90 Mt
Strategy

Sequenced by capital intensity and time-to-cash.

HVY prioritises projects by time-to-cash and capital intensity:

  • Near-term -- Kanmantoo tailings retreatment with HGO, targeting first production Q4 2026 at 100 ktpa.
  • Mid-term -- Port Gregory PFS completion followed by DFS then FID; 5.9 Mt contained Garnet supports a flagship Australian operation.
  • Long-term -- Red Hill exploration upside in WA and Inhambane optionality in Mozambique.

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ASX : HVY

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Volume
52,955
Mkt cap
A$35.9m
Ord. shares
71.78m
Updated
02:10 AWST 16 May
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Why HVY

Three reasons the market is watching.

Industrial demand

Garnet is critical to abrasive blasting, waterjet cutting and filtration -- markets driven by infrastructure renewal, energy transition and shipbuilding. Stable industrial fundamentals.

Near-term production

Kanmantoo Hard Rock Garnet Project puts HVY on a credible Q4 2026 first-production pathway -- de-risked by Hillgrove's existing operating envelope.

Resource depth

5.9 Mt of contained Garnet at Port Gregory plus substantial Red Hill exploration upside -- one of the largest garnet inventories in the world.