Olympia Resources was incorporated in 1997 to carry out exploration and develop mineral deposits within Australia into profitable mining operations. The company was listed on the Australian Stock Exchange (ASX) in August 2004.
Initially Olympia focused on developing the Harts Range Abrasives deposit near Alice Springs in the Northern Territory. In 2003, Olympia discovered the Keysbrook mineral sands deposit in the Southwest of Western Australia.
Both the Harts Range Abrasive Project and the Keysbrook Mineral Sands Project are now close to becoming operational mines. Olympia expects to start mining operations at Harts Range in 2008 and mining at Keysbrook in 2009.
In addition to Keysbrook, Olympia has identified mineral sands resources at Pinjarra, Coolup, Ambergate and Yalyalup in the southwest of Western Australia and is undertaking exploration to identify further resources in this well established mineral sands mining province. The Company also holds tenements in the Eucla Basin.
In mid 2006, Olympia extended its activities to the mineral rich province of Kalimantan in Indonesia. An Indonesia subsidiary, PT Olympia Resources Indonesia (90% owned by Olympia) was set up for exploration, and the construction and operation of mineral sands processing plants in Indonesia. The group will purchase zircon concentrate from local mining interests for processing, and simultaneously explore for resources containing a minimum of one million tonnes of zircon.