Strandline signs offtake deal for Tanzania mineral sands project

ASX-listed Strandline Resources has secured a binding offtake agreement for 100% of the zircon/monazite product to be produced at its Fungoni mineral sands project, in Tanzania. Marking it as a major step towards bringing its first mineral sands project into production, the company said on Monday that the agreement with China’s zircon sand and rare earth consumer Hainan Wensheng High-Tech Materials would account for more than 62% of the project’s revenue. The remaining project revenue is expected to be from chloride ilmenite (28%) and rutile (10%), for which offtake agreements are well advanced.