Lomon Billions to invest ~A$160m for 80% stake in two Australian mineral sand projects
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On September 23, 2026, Chinese titanium dioxide producer LB Group (龙佰集团) announced it has signed a Term Sheet with its associate company Image Resources NL on September 22, 2026, in Jiaozuo, China. Under the agreement, LB Group or its designated subsidiary will invest through cash and machinery equipment assets to acquire approximately 80% equity in the Durack and Yandanooka mineral sand projects held by Titon Resources Pty Ltd, a wholly-owned subsidiary of Image Resources. The mineral sands contain titanium and zirconium elements, which can be processed into titanium concentrate and zircon sand. The total investment is approximately 16,000 million Australian dollars (about 765.6 million Chinese yuan), comprising about 2,000 million Australian dollars (95.7 million yuan) in cash and machinery assets valued at about 14,000 million Australian dollars (669.9 million yuan). The announcement was sourced from Jin10 Data.
Source report
September 23, 2026 – Lomon Billions Group (Lomon) announced today that it has signed a Term Sheet with its associate company, Image Resources NL, in Jiaozuo. Under the agreement, Lomon or its designated subsidiary will invest through a combination of cash contributions and in-kind contributions of machinery and equipment, thereby acquiring approximately 80% of the interests in the Durack and Yandanooka mineral sand projects held by Titon Resources Pty Ltd, a wholly owned subsidiary of Image Resources.
The mineral sands at Durack and Yandanooka contain elements such as titanium and zirconium. After mining and beneficiation, these materials can be further processed into titanium concentrate and zircon sand.
Key terms of the transaction:
- Total investment: Approximately AUD 160 million (approx. RMB 765.6 million)
- Cash contribution: Approximately AUD 20 million (approx. RMB 95.7 million)
- In-kind contribution (machinery and equipment): Approximately AUD 140 million (approx. RMB 669.9 million), as agreed through negotiation
Source
金十数据Neutral / independent