PROJECT FINANCE

Diatreme secures globally significant cornerstone backer

SILICA sand hopeful Diatreme Resources has announced a plan to generate up to A$52 million to support its silica sands projects in Queensland, with 150-year-old European materials firm Sibelco becoming a significant shareholder.

Diatreme has been active at Cape Bedford for the past few years

Diatreme has been active at Cape Bedford for the past few years

It has bought 15% in Diatreme via a $13.97 million strategic placement priced at 2.5c per share. Sibelco, which was founded to mine silica in Belgium in 1872, and which has experience operating mines...

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