Zhitong Financial App News, Shenghe Resources (600392.SH) announced that in order to further expand heavy sand ore resource channels and guarantee the supply of raw materials, Ganzhou Chenguang Rare Earth New Materials Co., Ltd. (“Chenguang Rare Earth”), a wholly-owned subsidiary of Strandline Resources Limited (“STA Company”), intends to acquire 100% of the shares of Strandline Resources UK Limited (“SRUL Company”), a wholly-owned subsidiary of Strandline Resources Limited (“SRUL Company”), and then indirectly hold Fungoni in Tanzania Interest in four heavy sand mining projects, Tajiri, Sudi, and Bagamoyo. Chenguang Rare Earths will pay the full transaction price of 43 million Australian dollars.