Tyranna Resources Sells Namibe Lithium and Caesium Project Stake to Sinomine Resource

Tyranna Resources announced on July 7 that its 97%-owned subsidiary, Angolan Minerals, has entered into a binding share purchase agreement with Sinomine Resource (Guangdong Hengqin) Supply Chain Co Ltd. Under the agreement, Angolan Minerals will sell its 90% interest in AM Mauritius, the holding company for the Namibe Lithium and Caesium Project located in southern Angola. The agreed transaction value is a total cash consideration of USD 1.44 million.

Project Sale Supports Portfolio Realignment

After completing four years of exploration work, the company has chosen to divest the Namibe Lithium and Caesium Project as part of its broader strategy to concentrate on other resource opportunities within Angola. Exploration activities at the project led to the identification of spodumene and pollucite occurrences, confirming the presence of valuable lithium- and caesium-bearing minerals that contributed to the project's exploration success.

Sinomine Resource Expands Rare Metals Portfolio

The acquiring company, Sinomine Resource (Guangdong Hengqin) Supply Chain Co Ltd, is part of the Sinomine Resource Group, a globally recognized integrated supplier of lithium, caesium, rubidium, and other rare metals. Through this acquisition, Sinomine Resource strengthens its exposure to strategic mineral assets while Tyranna Resources redirects its efforts toward pursuing additional exploration and development opportunities across Angola.

Frequently Asked Questions

Why is Tyranna Resources selling the Namibe Lithium and Caesium Project?
Tyranna Resources decided to sell its indirect interest in the Namibe Lithium and Caesium Project after completing four years of exploration activities. The company identified spodumene and pollucite occurrences during exploration but chose to divest the asset to focus on other exploration and development opportunities within Angola. The transaction also enables Sinomine Resource to expand its portfolio of strategic rare metal assets through the acquisition.