Diatreme Resources, an emerging developer of silica sands, has signed a non-binding MOU with Mitsui & Co., a global trading and investment enterprise based in Tokyo, Japan.
This agreement outlines the intent of both parties to negotiate the potential sale and purchase of silica sand products from Diatreme’s North Queensland projects.
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The MOU is effective until 1 November 2025, with provisions for automatic annual renewal.
It also opens the door for further analysis and discussions around potential business opportunities between the two entities.
This new agreement builds on Diatreme’s earlier achievements including a non-binding offtake MOU with China’s Flat Glass Group in July 2023 and a strategic partnership with Sibelco, a global material solutions provider, established the previous year.
Diatreme CEO Neil McIntyre said: “Mitsui & Co. is a global organisation with access to markets worldwide and with an enormous depth and range of resources, focused on sustainable business growth.
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By GlobalData“Having the support of such a blue-chip company is hugely encouraging for Diatreme as we work to develop our low-iron, high-purity silica projects to help power the global solar energy boom.
“We look forward to engaging closely with Mitsui on future offtake and business opportunities with a goal of securing mutually beneficial agreements, ensuring the sustainable development of our silica sand projects for the benefit of all stakeholders.”
Mitsui & Co., founded in 1947, has a network of 125 offices across 61 countries and regions, employing more than 5,400 individuals.
The company’s 16 business units cater to a wide array of industries, encompassing minerals and metals, energy, infrastructure and more, highlighting its expansive reach and expertise.
Mitsui Chlor-Alkali Division general manager Yuichi Fujii said: “We are pleased to agree on this non-binding MOU with Diatreme Resources, a company with a strong commitment to community engagement, health and safety and sustainable development.
“Diatreme’s silica sand projects are attractively located in proximity to fast-growing Asian markets, and its ability to deliver a low-iron, high-purity product makes it well placed to benefit from the continuing solar energy boom.
“By utilising our global networks and industry know-how, we will help generate maximum value from this valuable critical mineral key to global decarbonisation.”
