BusinessCompaniesTechnology & InnovationWorld

Strandline to divest Tanzanian mineral sands assets to cut debt

Australian critical mineral producer Strandline Resources has reached an agreement to sell its majority stake in Tanzanian mineral sands projects to a subsidiary of Shenghe Resources for A$43m ($28.8m).

The divesture includes both the shares and the assignment of inter-company loans related to the projects.

Strandline currently owns 84% of the Tanzanian mineral sands projects, with the remaining 16% owned by the Government of Tanzania.

The proceeds from this transaction will be utilised to repay Strandline’s existing super senior indebtedness and to bolster its working capital.

Under the agreed terms, Strandline will receive A$27.2m for the sale of its shares and an additional A$15.8m for the transfer of its inter-company loans to the Tanzanian projects.

See Also:

This financial injection is expected to enhance the company’s liquidity position, as noted by Strandline, which is in active discussions with its financiers.


Minerals Meridian

Minerals Meridian is a premier online portal dedicated to exploring and uncovering the Earth's hidden wealth in the GCC and beyond. Our platform provides valuable insights and information on resource exploration, mining, and sustainable practices. With a focus on responsible resource management and ethical operations, we strive to empower individuals and businesses with knowledge to make informed decisions in the industry. Through cutting-edge technology and a commitment to environmental stewardship, Minerals Meridian aims to be the go-to resource for those seeking to understand, engage, and contribute to the world of resource exploration and mining. Join us as we navigate the depths and unlock the potential of our planet's resources.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button