CIC Resources Inc has discovered a significant deposit of ilmenite ore in the eastern part of Paraguay. Titanium is extracted from ilmenite ore and this project could potentially produce 5 to 10 million tons of ilmenite per year with a mine operating life of 100 years. Four other companies have already requested permits to explore for titanium in areas adjacent to the site in the Canindeyu and Alto Parana districts. Mineral resources belong to the state under Paraguay law and mining companies must submit reports to the government detailing their finding, investments and activities. Nearly all mining in the country is conducted by unregulated miners, although several corporations are looking to develop commercial mines.