Carstens told MNN on the sidelines of the Mining Indaba 2018 conference in Cape Town that a number of factors had attracted the company to the project.
It is on Madagascar's southwest coast, meaning it is in "reasonable proximity" to Base's flagship Kwale mine in Kenya (a four-hour flight away). This could allow it to use some of its existing team for the asset's development and operations.
It is also had large, high-grade mineral resources of 857 million tonnes at 6.2% heavy minerals, with 612Mt in the measured and indicated categories at 6.7% HM. Carstens said this should allow for a 40-year mine life, with the potential to expand it to over 60 years.
"We like that its size provides the good ability to build a starting operation and scale it...