The WCP is designed to beneficiate ilmenite, rutile, zircon and monazite and reject non-valuable, lighter minerals through high-capacity gravity separation and classification stages.

Further processing will deliver premium-quality final products including chloride ilmenite, rutile, premium zircon and zircon concentrate.

The WCP and power station at Coburn are nearly built, with work shifting to installation of in-plant piping, electrical equipment and bore headworks before commissioning.

Final construction of other critical supporting infrastructure including water services, electrical reticulation, communications interconnections. and site offices and buildings is also underway.

On site, pre-stripping of open pits has started ahead of schedule, with three dozer mining units assembled and ready to be moved into position to mine first ore.

Strandline managing director Luke Graham said the company was on the cusp of production and cashflow.

"Coburn construction continues to progress rapidly and safely [and] this week the project achieved more than 500,000 hours free from serious injury and harm, with zero lost time injury and medical treatment injury reported to date," he said.

"All of Coburn's initial production is covered by binding sales contracts with some of the world's largest consumers, with 80% [in terms of revenue] being sold into the US and Europe and 20% to Asia."

Graham said there was a supply shortage of critical minerals due to a lack of investment in recent years, mine closures, and declining grades of existing mines.

"Combine this with strong underlying demand and the sector is experiencing a very tight market," he said.

"We can see this in the recent market prices of our products, which are running about 35% higher than the pricing assumptions used in the DFS two years ago."

Graham revealed Strandline was looking to potentially expand Coburn and increase the production rate by up to 50%.

"The production increase would be aimed at enabling Coburn to capitalise further on its world-class resource, long mine life, higher mineral sands prices and strong demand for offtake," he said.

"Any expansion is expected to be funded out of future Coburn cashflow and leverage significantly off Coburn's infrastructure, especially the inherent design capacity within the processing plant."