Tricor to offload iron sand processing plant to KGGD

Tricor announced on Friday that it has entered into a conditional sale and purchase agreement with KGGD and Dunamis Mining, whereby KGGD will acquire the iron sand processing plant and equipment of Tricor Minerals, a 72% subsidiary of Tricor.

The AIM-traded firm said that In addition, Tricor Environmental - a wholly-owned subsidiary of the company - has entered into a new operating arrangement with KGGD.

“The Transaction is conditional, inter alia, on the approval of shareholders at a general meeting of the company to be held on at 1100 on 30 September at 11 Collyer Quay, The Arcade, Singapore,” Tricor’s board said in a statement.