The investment consists of the purchase of Diatreme shares through a private placement and investment in a silica sand joint venture between Diatreme and Sibelco in Cape Flattery, Northern Queensland. The investment is subject to approval by Australia’s Foreign Investment Review Board (FIRB).
Diatreme’s low-iron silica sand projects are strategically located to service fast-growing Asian markets for solar PV, engineered stone and other applications. The partnership supports Sibelco’s vision of becoming the global leader in silica sand, extending access to silica sand reserves across the globe.
Diatreme Resources (ASX:DRX) is an emerging Australian producer of mineral and silica sands based in Brisbane. Diatreme’s key projects comprise the Galalar Silica Project and Northern Silica Resource Project in Far North Queensland, located next to the world's biggest silica sand mine at Cape Flattery.
Diatreme has an experienced Board and management, with expertise across all stages of project exploration, mine development and project financing together with strong community engagement skills.
Diatreme’s silica sand resources will contribute to global decarbonisation by providing the necessary high-grade silica for use in the solar PV industry.
Diatreme has a strong focus on ESG, working closely with Traditional Owners and all other key stakeholders to ensure the long-term sustainability of its operations, including health, safety and environmental stewardship.