(Yicai  Global) Jan. 15 -- Australian miner Image Resources has sent its first  shipment of mineral sands from zircon-rich Boonanarring project in  Western Australia to its Chinese majority shareholder and project  financier Orient Zirconic Ind Sci & Tech. 

Image  Resources has sent the product from Perth and received the payment for  the first batch of 10,000 wet metric tons of heavy mineral concentrate,  the Perth-based firm said in a statement today. 

Zirconium  is in high demand to make nuclear fuel cladding tubes which China needs  for example for its Hualong One, the nation's first domestically  designed third-generation nuclear reactor, prepared for launch this  year. The Chenghai-based mining parent has not confirmed the link  between it and China's nuclear plans though.

Orient  Zirconic and its unit Murray Zircon provided mining equipment and  short-term loans to Image Resources during construction and promised to  buy 90 percent of all zirconium products, according to an agreement  between the three parties in 2016. 

Murray  Zircon became the largest shareholder of Image Resources last May, with  its over 21 percent stake, which it has the right to lift up to 47  percent if the project schedule and other conditions were met.

Boonanarring  project started construction last March and was put into operation at  the end of November. The plant is estimated to produce 65,000 tons of  zircon ore each year, making up about 5 percent of the global supply.

Australian-listed Image Resource's stock price [ASX:IMA]  jumped over 17.4 percent today to AUD0.14 (10 US dollar cents). Orient  Zirconic's share price [SZE:002167] climbed 0.5 percent to CNY6.06 (90  US dollar cents).

Editor: Emmi Laine