LB Group to take 80% interest in Australian mineral sands projects
2026-09-24 10:55:20 [Print]
To secure a stable supply of titanium concentrate feedstock, LB Group signed a letter of intent with its associate, Image Resources, in Jiaozuo on September 22.
Under the agreement, LB Group or its designated subsidiary plans to invest through a combination of cash and in-kind assets, including machinery and equipment, to acquire an approximately 80% interest in the Durack and Yandanooka mineral sands projects (the target projects) held by Titon Resources Pty Ltd, a wholly-owned subsidiary of Image Resources.
The mineral sands contain titanium, zirconium and other elements, which can be processed into titanium concentrate and zircon sand following mining and beneficiation. The total cash and asset investment in the transaction is approximately AUD160 million (RMB766 million).
Under the agreement, LB Group or its designated subsidiary plans to invest through a combination of cash and in-kind assets, including machinery and equipment, to acquire an approximately 80% interest in the Durack and Yandanooka mineral sands projects (the target projects) held by Titon Resources Pty Ltd, a wholly-owned subsidiary of Image Resources.
The mineral sands contain titanium, zirconium and other elements, which can be processed into titanium concentrate and zircon sand following mining and beneficiation. The total cash and asset investment in the transaction is approximately AUD160 million (RMB766 million).
Ilmenite Conc 46%min Ex-VAT EXW China
Unit:RMB/mt
China titanium concentrate producers' operating rate statistics by province by month
Unit: %
