VRX Silica is focused on supplying the global demand for silica sand.
VRX Silica identified the silica sand shortage in the Asia-Pacific region as a unique opportunity for Western Australia. The shortage, which is predicted to worsen with dwindling local supplies and increasing demand, has caused an increase in price. The Asia-Pacific region accounts for 47% of global demand for silica sand and is predicted to grow by 6.1% to 138 million metric tonnes in 2019 according to Freedonia Group.
Western Australia is well positioned to meet this rising demand in Asia-Pacific markets for silica sand.
The securities of VRX Silica Limited (‘VRX’) will be placed in trading halt at the request of VRX, pending it releasing an announcement. Unless ASX decides otherwise, the securities will…