en.Wedoany.com Reported - Titanium Sands Limited (ASX:TSL) has initiated discussions with potential offtake and investment partners regarding the Mannar Island heavy mineral sands project in Sri Lanka, and has confirmed its role as a gold sponsor for the Colombo Heavy Mineral Sands Technical Conference.
The company has entered into a non-exclusive advisory agreement with UK-based Global Mining Synergy (GMS) to assist in establishing strategic relationships and alliances with Chinese parties. The discussions focus on mine development and product offtake, with the goal of securing a memorandum of understanding or term sheet for the company's consideration. GMS will work to build potential opportunities and develop financing, investment, and offtake strategies aligned with Titanium Sands' Sri Lanka project objectives. Titanium Sands stated that all significant fees payable under this agreement are contingent upon the company reaching a transaction with certain pre-identified potential cornerstone investors or project financiers, with all other material terms and conditions being standard for such agreements.
Managing Director Dr. James Searle said the company has maintained contact with multiple groups regarding offtake and strategic investment for several years. He noted that with industrial mining license applications submitted late last year and pending processing by Sri Lanka's Geological Survey and Mines Bureau (GSMB), it is now an opportune time to restart these discussions and begin establishing formal relationships with various groups. Titanium Sands stated it will continue discussions with introduced parties and update the market as negotiations progress toward a memorandum or term sheet.
Titanium Sands has confirmed it will be a gold sponsor for the Mineral Technology Heavy Mineral Sands Technical Conference, hosted by Mineral Technologies and the Ceylon Chamber of Commerce, to be held in Colombo on June 17, 2026. This event is Sri Lanka's first professional technical forum focused on the mineral sands sector, bringing together government policymakers, industry leaders, technical experts, investors, mineral sands companies, and service providers, with support from the Australian High Commission in Colombo. Speakers are expected from Australia, South Africa, India, the Netherlands, the United States, Canada, and Sri Lanka. The conference sponsorship prospectus notes that Sri Lanka possesses substantial mineral sand deposits with potential for export growth, industrial development, and foreign direct investment. The forum aims to showcase international best practices across the entire project lifecycle, including exploration, resource definition, processing, environmental, social and governance (ESG) compliance, reclamation, and market positioning. Titanium Sands stated that this sponsorship is a strategic investment, positioning it as a foundational partner in Sri Lanka's mineral sands industry development, a role it says it has played for several years.
Through local partners Orion Minerals (Private) Ltd, Sanur Minerals (Pvt) Ltd, and Kilsythe Investments (Private) Ltd, Titanium Sands is developing the Mannar Island heavy mineral sands project in Sri Lanka. The company describes it as a high-grade, high-value, and easily mineable project. A recent scoping study highlighted Mannar Island as a significant mineral sands asset, with identified resources of 345 million tonnes at a total heavy mineral grade of 5.02% and a net present value of USD 545 million. The project is completing environmental studies, which are expected to help advance the mining license issuance. Titanium Sands stated that the project is expected to initially create approximately 300 jobs in Sri Lanka, increasing to up to 1,200 during full operations. The project also includes reclamation measures, with completed mining areas to be developed into cash crop cultivation zones, aimed at providing long-term benefits to local landowners.
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