China’s Sinomine to acquire Tyranna’s Namibe lithium project in Angola
Australian junior
focused on lithium and gold projects in
its Namibe lithium and caesium project in
Resource Group
minerals company, for
The deal is structured as a binding share purchase agreement
between Tyranna’s 97%-owned subsidiary Angolan Minerals and
logistics subsidiary of Sinomine. Under the agreement, Tyranna will
sell Angolan Minerals’ 90% interest in AM Mauritius, the holding
company for the Namibe project in southern
The acquisition expands Sinomine’s presence in Africa’s lithium
sector, where it already operates the Bikita mine in
of the continent’s largest lithium operations. It also builds on an
earlier relationship between the companies after Sinomine agreed in
2023 to fund exploration and development work at Namibe and secured
offtake rights for 50% of future spodumene and pollucite production
from the project.
Sinomine is already party to a royalty deed dated
covering the Namibe lithium and caesium project, while earlier
agreements gave it offtake rights over 50% of future spodumene and
pollucite production from the asset.
The Namibe project covers 207 square kilometres (about 80 square
miles) and includes the Giraul pegmatite field, where Tyranna says
around 600 pegmatites are exposed across an area about 25
kilometres (16 miles) long and up to 10 kilometres (6 miles) wide.
Pegmatites can host spodumene, the main hard-rock lithium mineral,
and pollucite, a source of caesium.
The geological setting helps explain Sinomine’s interest in the
asset. Its Bikita operation in
geology, giving the company technical experience that could be
applied to Namibe if further exploration confirms commercial
resources.
Tyranna said the sale would allow it to shift focus to its
Chinguar gold project and other opportunities in Angola’s mining
sector. The company has also said proceeds from the transaction
will support future exploration and possible acquisitions.
The transaction remains subject to conditions precedent,
including Chinese regulatory approvals for overseas investment and
approval from Tyranna shareholders. The companies have set
15
Tyranna said proceeds from the sale would be used to advance its
recently acquired Chinguar gold project in
further acquisitions as opportunities are identified, marking a
shift away from Namibe and towards gold exploration in the
country.
Namibe remains an early-stage exploration project. Work to date
has focused on the most accessible pegmatites, several of which
have confirmed the presence of spodumene, but further drilling,
technical studies and development funding would be needed before
any mining decision.
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