Base Resources has announced that it will purchase a mineral sands project in Madagascar for $US75 million ($100 million) and tap investors for $100 million to fund the acquisition.
Perth-based Mineral sands miner Base Resources has launched a scrip takeover offer for ASX-listed World Titanium Resources, which owns the Toliara Sands project in Madagascar, after securing extra funds for its Kwale project.
Base Resources has signed a key off-take agreement with Dupont Titanium Technologies for mineral sands produced from its flagship Kwale project in Kenya.
