Lion Rock Minerals Receives $8.6m Cornerstone Investment to Advance Minta Monzanite-Rutile Project
Lion Rock Minerals (ASX: LRM) has received a firm commitment from US chemical company Tronox Holdings for an $8.6 million strategic placement to help advance its Minta monazite and rutile project in central Africa.
The company confirmed the cornerstone investment after a site visit by senior Tronox executives to Minta’s base in Cameroon—once completed, it will give Tronox 5% equity in Lion Rock.
Under the terms, Tronox will receive approximately 153 million new Lion Rock shares at $0.056 each and enter an agreement for the provision of commercial and technical services to the project.
Long-Term Partnership
The investment forms the foundation for a long‑term partnership that will combine Lion’s high‑quality resource base with Tronox’s mine‑to‑pigment capabilities, and its strategic expansion into the monazite‑derived rare earth value chain.
Lion Rock will use the proceeds to accelerate drilling and resource definition, metallurgical test work and flowsheet validation, and product qualification to expand its analytical capabilities in Cameroon.
“Tronox’s participation in this project provides us with commercial and technical capability and immediate cash, creating a foundation for collaboration in rare earth and titanium feedstock development, processing, and market access,” Lion Rock chief executive officer Casper Adson said, adding that the strategic placement validated the global significance of the Minta project.
“With Tronox’s support, we will be positioned to accelerate one of the world’s most significant undeveloped monazite and rutile projects, delivering value for our shareholders and contributing to secure, sustainable supply chains of critical minerals.”
Critical Minerals Strategy
Tronox chief executive officer John Romano said Minta presented an opportunity for the company to advance its critical mineral strategy in rare earths and high-grade rutile.
“Our investment in Lion Rock reflects the exciting potential we see in Minta to create meaningful value,” he said.
“We look forward to working with the Lion Rock team to assist with the development of this important resource as we continue to expand our presence in the rare earths value chain.”
NYSE-listed Tronox is one of the world’s leading producers of high-quality titanium products—including titanium dioxide pigment, specialty-grade titanium dioxide products, and high-purity titanium chemicals, and zircon.
With approximately 6,500 employees across six continents, Tronox mines titanium-bearing mineral sands and operates mines in South Africa and Australia, as well as eight pigment facilities worldwide that produce high-grade titanium feedstock materials, pig iron, and other minerals including rare earth-bearing mineral monazite.