By Yuka Obayashi

TOKYO (Reuters) -Japan’s Marubeni Corp will invest in a mineral sands project owned by Australia’s RZ Resources, it said on Monday, following in the footsteps of compatriot JX Advanced Metals, which struck a similar deal with RZ earlier this year.

If the project’s feasibility is confirmed, Marubeni will contribute A$15 million ($9.75 million) for options granting it up to 5% equity participation in RZ’s Copi mineral sands mine project in New South Wales along with certain marketing rights.

RZ, which owns the Copi project and a mineral separation and processing plant in Brisbane, Queensland, plans to produce heavy mineral sands products such as rutile, ilmenite, zircon, and monazite. These minerals are used in industries including aerospace, defence, and permanent magnet

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