MRG Metals (ASX:MRG) that its 30% owned joint venture (JV) company, Terriland, based in Hong Kong, is now operational, according to a Tuesday filing with the Australian bourse.
Terriland is a partnership between MRG Metals and Sinowin Lithium (SLC) aimed at developing the company's Mozambique Corridor Sands projects in East Africa.
The joint venture also owns a newly established company, Tailan Mining, based in the United Arab Emirates, the filing said.
The heavy mineral sands exploration firm said that the transfer of its Mozambique assets to SLC is nearly complete, pending a tax assessment from the Mozambique government.
MRG will retain and fund an organization to manage its remaining Mozambique projects that are not part of the JV, the company added.
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