• Titanium Dioxide prices are expected to double from 2010 to the end of 2015
  • The Titanium Dioxide global price is expected to reach US$4,800 per metric tonne in  2015
  • There is a direct correlation between Titanium Dioxide demand and global GDP

MONTREAL, Jan. 26 /CNW Telbec/ - Argex Mining Inc. ("Argex") (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) has received the "Global TiO2 Profile Report" by Gary Cianfichi of Ti Insight, LLC. Ti Insight, LLC was engaged by Argex to provide an overview of the titanium dioxide (TiO2) pigment market including pricing forecasts. The report defines the global market for TiO2 pigment in terms of global capacity, global demand, global and regional pricing trends, key producer profiles, key pigment end uses and background information on TiO2 ore types used for pigment production including a profile of the key titanium ore suppliers. The report also defines the key properties that differentiate TiO2 pigments produced and marketed for key end use segments.

TiO2 forecast to 2015

Absent a significant drop in demand, TiO2 supply and demand is forecasted to be tight until 2015. The report concludes that it seems quite likely that TiO2 producers will have pricing power for most if not all of that period. Since 2010, when the average world price for high quality TiO2 pigment was approximately US$2,400 per metric tonne, until 2015, the TiO2 price is forecast to double to US$4,800 per metric tonne.

Global TiO2 Profile Report - Scope of Work

The scope of the work covered in the report included:

  1. Information on the global TiO2 pigment supply and demand for the prior ten year period and looking out through 2015. This information included the following:  
     a.  TiO2 demand globally, by region and by major end use market                           
     b.  TiO2 supply (capacity) by region, by technology type and by producer                           
     c.  Annual capacity operating rate levels                       
  2. TiO2 global pigment pricing trends and a pricing forecast by geographic region through 2015
  3. A profile of the leading TiO2 pigment producers including a comparative analysis of DTT, Cristal Global, Huntsman, Kronos, Tronox, ISK and Sachtleben
  4. A review of TiO2 pigment types and the general surface treatments for key enduse applications
  5. A profile of the larger TiO2 pigment consumers
  6. General information on the major ore types used by the TiO2 pigment industry with  key ore producer profiles.

Recent TiO2 Price History

The last twenty years have been characterized by  relatively flat prices for TiO2 pigment. Other than the the period in the mid to late 1980's, TiO2 prices have declined on a real basis and generally did not increase enough to offset TiO2 producer costs, resulting in declining profit margins for producers. However, the current tight TiO2 supply and demand conditions, means producers are expected to reverse this trend and increase prices on a real basis for the period 2010 through 2015, if not longer.

Titanium Dioxide Demand is directly correlated with Global GDP

Growth in the demand for TiO2 is a function of economic activity. TiO2 is considered to be a quality of life product where demand is driven by the rising economies and standards of living. The correlation between TiO2 demand and world gross domestic product (GDP) has been noted by many TiO2 companies. This correlation holds because TiO2 is fundamental to many basic bulding blocks of economies including housing materials, automobiles, industrial equipment, consumer packaging and construction materials. These segments do well when countries' economies (GDP) are doing well, which drives TiO2 demand growth.

About Ti Insight LLC

Ti Insight, LLC is a Titanium Dioxide consulting company formed by Gary Cianfichi and Augustus Williamson, both executives with a combined fifty years of experience in TiO2 industry marketing, sales, strategic planning, competitive intelligence, supply chain, communications and business management functions.   

About Argex Mining Inc.

Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Québec, Canada. Headquartered in Montreal, Québec, the company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100%-owned La Blache deposit located near Baie-Comeau, Québec. Argex also owns 100% of the Mouchalagane Iron Ore project, 380 kilometres north of Baie-Comeau, Québec and of the same type of deposit as ore bodies currently being mined by Québec Cartier Mining's (Arcelor Mittal) Fire Lake Mine and Consolidated Thompson's Bloom Lake Mine. Recently, Argex expanded its land holdings near Baie-Comeau, Québec surrounding Consolidated Thompson's Lac Brûlé Titanium-Iron-Vanadium deposit. For additional information, please visit our website at


This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


For further information:

Michael Dehn, President and CEO
Argex Mining Inc.

Paradox Public Relations at 514-341-0408 or 1-866-460-0408

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