Tri-Star invests $6m to Strategic & Precious Metals Processing

The technology and mineral processing company, Tri-Star, invested an additional $6m via a mezzanine loan to Strategic & Precious Metals Processing, in which it has 40% equity interest, to enable further development of the Oman Antimony Roaster Project in Oman, it has emerged on Wednesday.

Tri-Star said funds for the company stemmed from the issuance of short-dated secured loan notes to Odey European Inc and OEI MAC.

Crispin Odey, Founder, Odey Asset Management, said: "We are delighted to continue to support the OAR project through this interim loan structure with Tri-Star. We have built up an excellent relationship with our partners in Oman and Dubai and continue to see positive signs for this business as we complete the project and bed down agreements on the feedstock and offtake side."