Southern Titanium have signed a memorandum of understanding with DCM DECOmetal International Trading GmbH relating to Southern Titanium’s Mindarie Project which is currently under development.
According to the agreement, DCM will purchase all planned production of:
from the Mindarie project.
Under the agreement, DCM will also provide Southern Titanium with a $5million loan to assist in the development of the project. DCM have also been offered a seat on the board, which they intend to take up.
The two parties also expect to finalise sales agreements in the coming weeks.
For more information on rutile click here.