Lion Rock Minerals Ltd (ASX: LRM) has announced a strategic partnership with Tronox Holdings plc (NYSE: TROX), a leading vertically integrated producer of titanium dioxide pigment, titanium, and rare-earth bearing mineral sands. The partnership is anchored by an $8.6 million placement, giving Tronox approximately 5% ownership of Lion Rock. Lion Rock Minerals is focused on the exploration and development of critical mineral resources. Its primary focus is advancing the Minta Monazite and Rutile Project in Cameroon.
The investment from Tronox will accelerate the development of the Minta Project. Proceeds will be used for expanded drilling, resource definition, metallurgical test work, product qualification, and the establishment of in-country laboratory capabilities. The collaboration grants Lion Rock access to Tronox’s intellectual property, technical expertise, and industry relationships, positioning the company to expedite the project’s advancement.
According to Lion Rock CEO Casper Adson, the partnership validates Minta’s global significance and creates a foundation for collaboration in rare earth and titanium feedstock development, processing, and market access. Tronox CEO John Romano noted the investment reflects the company’s critical mineral strategy in rare earths and high-grade rutile. He further stated that Tronox looks forward to working with the Lion Rock team as they continue to expand their presence in the rare-earths value chain.
Under the terms of the placement, Lion Rock will issue 153,195,857 new shares at $0.056 per share. The company will also seek a waiver from the ASX to allow Tronox to maintain its interest in future capital raisings, provided they hold at least 2.5% of the company. Settlement of the placement is expected to occur today, 15 October 2025.
