Australia’s Strandline Resources has agreed to sell its Tanzania mineral sands assets to a subsidiary of rare earths and mineral sands miner Shenghe Resources.

Strandline will receive a total of $43-million, comprising A$27.2-million for the sale of Strandline’s shares in the Tanzania projects and A$15.8-million for the assignment to Shenghe of Strandline’s various inter-company loans to the projects.