By: Ecofin agency

Lion Rock Minerals Ltd, formerly known as Peak Minerals, announced on October 15 that it had received a firm commitment to raise A$8.6 million (approximately $5.6 million) through a share placement to finance exploration at its Minta rutile and monazite project in Cameroon.

The Australian explorer said it will issue 153,195,857 ordinary shares at A$0.056 per share to raise the funds. Tronox Holdings plc, a major global titanium dioxide producer, will subscribe to the full placement. The transaction will give Tronox about 5% ownership of Lion Rock and establish a strategic partnership for the development of the Minta project.

Funds to Boost Drilling and Resource Definition

Lion Rock said the capital injection will “accelerate drilling and resource definition” at Minta, which is emerging as one of Cameroon’s key rutile exploration sites. The company began reconnaissance drilling earlier this year to gather geological data for its next exploration phase. It plans to publish its first mineral resource estimate in 2026.

Chief Executive Officer Casper Adson said Tronox’s participation strengthens the project’s development outlook. “We are delighted to welcome Tronox as a strategic investor and development partner for the Minta project,” Adson said. “Their involvement brings both expertise and immediate liquidity, laying the foundation for collaboration in development, processing, and market access for rare earths and titanium.”

Minta joins the Central Rutile project operated by DY6 Metals as one of the most advanced rutile exploration initiatives in Cameroon. The country’s rutile potential has drawn growing investor interest due to rising global demand for titanium used in aerospace, defense, and industrial applications.

Lion Rock’s partnership with Tronox aligns with the company’s broader strategy to build a diversified portfolio of critical mineral assets in Africa. In addition to Minta, Lion Rock also holds the Kitongo and Lolo uranium exploration projects in Cameroon.

While details of the partnership with Tronox remain under discussion, the collaboration is expected to fast-track Minta’s development and strengthen Lion Rock’s financial position. If successful, the project could position Cameroon as a notable emerging source of rutile and titanium-related minerals in Africa.