On Manch 28, 2022, Strandline and the Tanzanian Government completed the formation of JV company, Nyati Mineral Sands Limited (Nyati), which now holds all Strandline’s Tanzanian mineral sands assets, including the advanced Fungoni and Tajiri Projects.
Subsequent to the end of the 2024 financial year Strandline completed the sale of its Tanzanian mineral sands assets to a subsidiary of Shenghe Resources. Strandline’s mineral sands projects in Tanzania include Fungoni, Tajiri, Sudi, and Bagamoyo.
The purchaser, Ganzhou Chenguang Rare Earths New Material Co., is a subsidiary of Shenghe. The company intends to acquire 100% equity in Strandline Resources UK Limited, a wholly-owned subsidiary of Strandline Resources Limited, thereby indirectly holding interests in the four heavy mineral sand projects in Tanzania.
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