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A loan of up to $150m to Strandline Resources for the Coburn Heavy Mineral Sands Project

The Coburn Project – owned by Strandline Resources Limited – is expected to be one of the world’s largest and most capital efficient mineral sands projects, with a strong zircon-titanium product suite.

NAIF’s loan will be used for key infrastructure including a processing plant and equipment. The project is expected to generate up to $922 million of net public benefit to the region over 25 years and generate up to 315 jobs during construction and up to 190 jobs during operations.

Products from the development will be used globally in items including ceramic tiles, refractory, paint, titanium metal and welding rod applications.

The Coburn project is one of a range of resources projects that NAIF has approved investment towards and provides an extra boost to the Australian Government’s Critical Minerals agenda. NAIF has to date approved in loans to resource deals, across iron ore, bauxite and potash sectors.