Titanium Sands Ltd (ASX:TSL) has started discussions with potential offtake and investment partners for its Sri Lankan heavy mineral sands project, while also committing as a Gold sponsor of the Mineral Technologies Heavy Mineral Sands Technical Conference in Colombo.
The two initiatives reflect its efforts to build formal industry, funding and offtake relationships as it progresses the Mannar Island Heavy Mineral Sands Project in Sri Lanka.
MoU and term sheet discussions underway
Titanium Sands has entered into a non-exclusive consulting agreement with UK-based Global Mining Synergies (GMS) to help establish strategic relationships and alliances with parties from China.
The discussions will focus on mine development and product offtake, with the aim of delivering either a Memorandum of Understanding (MoU) or term sheet for the company to consider.
GMS will work to structure potential opportunities and develop funding, investment and offtake strategies aligned with Titanium Sands’ objectives for the Sri Lankan project.
“All material fees payable under this agreement are subject to the company entering into a transaction with certain pre-determined potential cornerstone investors/project financiers,” Titanium Sands said.
The company added that all other material terms and conditions were standard for an agreement of this nature.
Timing follows mining licence applications
Titanium Sands managing director Dr James Searle said the company had maintained contact for several years with various groups regarding offtake and strategic investment.
“Given the Industrial Mining Licence applications were lodged late last year and the processing of these licences is pending at the GSMB, now is the appropriate time to recommence these discussions and start to develop formal relationships with the various groups,” Dr Searle said.
Titanium Sands said discussions with introduced parties would continue, with the market to be updated as talks evolved and led to signed MoU or term sheet opportunities.
Gold sponsor of Colombo mineral sands conference
Separately, Titanium Sands has confirmed it will be a Gold sponsor of the Mineral Technologies Heavy Mineral Sands Technical Conference, to be held in Colombo on 17 June 2026.
The event is Sri Lanka’s first dedicated technical forum for the mineral sands sector and will bring together government decision-makers, industry leaders, technical experts, investors, mineral sands companies and service providers.
The conference is being presented by Mineral Technologies and The Ceylon Chamber of Commerce, with support from the Australian High Commission in Colombo.
Speakers are expected from Australia, South Africa, India, the Netherlands, the United States, Canada and Sri Lanka.
Focus on Sri Lanka’s mineral sands potential
According to the conference sponsorship prospectus, Sri Lanka holds substantial mineral sands deposits with potential for export growth, industrial development and foreign direct investment.
The forum has been designed to present international best practice across the full project lifecycle, including exploration, resource definition, processing, ESG compliance, rehabilitation and market positioning.
Titanium Sands said its sponsorship was a strategic investment, as the event would bring together key stakeholders involved in advancing Sri Lanka’s mineral sands industry.
These include government officials responsible for licences and policy, project developers seeking approvals, service providers and OEM suppliers building the supply chain, and investors assessing the opportunity.
The company said the sponsorship positioned it as a foundational partner in the development of Sri Lanka’s mineral sands sector, a role it said it had played for many years.
About Titanium Sands
Titanium Sands, through local partners Orion Minerals (Private) Ltd, Sanur Minerals (Pvt) Ltd and Kilsythe Investments (Private) Ltd, is developing the Mannar Island Heavy Mineral Sands Project in Sri Lanka.
The company describes the project as high-grade, high-value and easily mineable.
A recent scoping study highlighted Mannar Island as a significant mineral sands asset, with an identified resource of 345 million tonnes at 5.02% total heavy minerals and a net present value of $545 million.
The project is completing environmental studies, which are expected to support the pathway toward the issue of a mining licence.
Titanium Sands said the project was expected to create about 300 jobs initially in Sri Lanka, rising to as many as 1,200 when fully operational.
The company also said the project would include rehabilitation measures, with completed mined land to be developed with income-producing crops intended to benefit local landowners over the long term.