Empire Metals Ltd (AIM:EEE, OTCQB:EPMLF) has laid out an ambitious roadmap for the next 12 months as it moves to commercialise its flagship Pitfield project in Western Australia, now confirmed as the world’s largest undeveloped titanium discovery.
The company said it expects to deliver a maiden Mineral Resource Estimate, finalise its process design and begin mining studies in 2025, building momentum towards a preliminary economic assessment.
Managing director Shaun Bunn described the coming year as “transformative”, with Pitfield increasingly viewed as a “once-in-a-generation discovery”.
Empire has estimated a JORC Exploration Target of 26.4 to 32.2 billion tonnes at 4.5 to 5.5% titanium dioxide (TiO₂), confirming both the scale and consistency of the deposit.
A key breakthrough in 2024 was the discovery of high-grade, near-surface saprolite zones rich in naturally clean rutile and anatase minerals containing over 95% TiO₂.
These are used in pigment and aerospace markets and can be processed using simpler, lower-cost methods.
Initial metallurgical test work delivered a 91.7% TiO₂ product using conventional processes without the need for energy-intensive smelting.
This supports a potential high-margin, low-impact development path, with Empire aiming to produce a rutile-equivalent or pigment-grade product from a single integrated site.
Titanium has seen growing strategic interest due to its role in defence, aerospace and industrial pigment applications.
With quality feedstocks facing supply constraints, Pitfield’s location, scale and metallurgy place it in a strong position to meet future demand. Titanium is classed as a critical mineral by governments in Australia, the US and the European Union.
To support rapid progress, Empire raised £4.5 million in May 2025 and now holds a cash balance of £7 million. The funding will expand drilling, bulk testing and technical work, including sample production for potential offtake partners.
The company also expanded its technical and leadership teams during the year, adding experience across processing, environmental management and corporate development.
Empire reported a full-year loss of £4.1 million, reflecting increased investment activity and the write-down of its Eclipse gold project.
Bunn said each milestone continued to de-risk Pitfield, adding: "Our conviction in the scale, quality, and strategic importance of this project has only grown”. He described 2025 as a "pivotal year as we move ever closer to development”.