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Strandline to sell Tanzania mineral sands asset

Australia’s Strandline Resources has agreed to sell its Tanzania mineral sands assets to a subsidiary of rare earths and mineral sands miner Shenghe Resources. Strandline will receive a total of $43-million, comprising A$27.2-million for the sale of Strandline’s shares in the Tanzania projects and A$15.8-million for the assignment to Shenghe of Strandline’s various inter-company loans to the projects.

Strandline to divest Tanzanian mineral sands assets to cut debt

The proceeds from this transaction will be used to repay Strandline's existing super senior indebtedness.