Australia's Strandline hits 8-1/2-year high on rare-earths JV with Tanzanian govt

Strandline Resources

14/12/2021 24:40

** Shares of nickel miner Strandline Resources  STA.AX  rise
as much as 5.2% to A$0.305, their highest level since May 15,
2013
    ** The Australian co says it has signed an agreement to
establish a joint venture with the Tanzania govt to produce
minerals of zircon, titanium and monazite containing rare-earths
  urn:newsml:reuters.com:*:nASX4LgzZq 
    ** The JV entity, Nyati Mineral Sands Ltd, will be owned 84%
by Strandline and 16% by the Tanzanian govt 
    ** JV ops forecast to generate a total of more than $1 bln
of EBITDA over ~30 years 
    ** Stock up about 55% this year, as of last close 
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))