Photo: University of Arizona
David Lowell, the 82-year old American president of CIC Resources, claims to have found the world’s largest deposit of titanium.It’s in an area he has rights to 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 in an interview. “And the price, presumably, would be reduced by having higher-grade ore and large tonnage.”
Titanium “has a high strength-to-weight ratio,” Lowell said. “If you could reduce the price sufficiently, you could build all commercial airliner bodies out of it and save fuel costs on long flights. The same goes for automobiles.” His company, CIC Resources, is based in Vancouver.
Lucky fluke? Nah. Mr. Lowell discovered the world’s largest copper deposit in Chile back in 1981. He’s made a fortune discovering resources and then selling rights to miners. His latest statements above come from his marketing efforts in Hong Kong, where he’s speaking at a conference run by Australia’s TZ Minerals International.
He’s truly an amazing man, you can learn more about him at the University of Arizona’s Lowell Institute for Mineral Resources.