Emerging silica sands developer Diatreme Resources has signed a non-binding memorandum of understanding (MoU) with global trading and investment firm Mitsui & Co. The agreement focuses on the potential offtake of silica sand products from Diatreme’s North Queensland silica sand projects.
The agreement, effective until November 1, 2025, provides a framework for further negotiations regarding the sale and purchase of silica sand products. It also includes provisions for additional analysis and discussions on potential business opportunities. The MoU will automatically renew every year unless terminated by either party.
The deal builds on Diatreme’s prior agreements, including a July 2023 non-binding offtake MoU with China’s Flat Glass Group and a strategic partnership with Sibelco in 2022.
“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. 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,” said Diatreme CEO Neil McIntyre.
Mitsui GM of Chlor-Alkali division 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 strategically located to serve Asian markets, and its low iron, high purity silica products are critical for the solar energy industry, which is expected to dominate global renewable energy growth through 2030, according to the International Energy Agency. 