Australia’s Mayur raises up to $25 mln to develop Orokolo Bay Project

01/07/2019 9:09:00 AM (GMT)

Australian mineral properties developer Mayur Resources has raised up to $25 million in funding.

The funding, raised from China Titanium Resources Holding Ltd., will be used to establish the Orokolo Bay Industrial Sands Project in Papua New Guinea (PNG).

The Orokolo Bay Industrial Sands project's tenements are spread over 10,000 square kilometers in the Gulf of Papua.

China Titanium Resources made the investment for a 49 percent stake in Mayur’s subsidiary MR Iron PNG Pte. Ltd.

Mayur Resources Ltd.

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