Along with local partners Orion Minerals (Private) Limited, Sanur Minerals (pvt) Ltd and Kilsythe Investments (Private) Limited, TSL entered into a binding term sheet to acquire James Global (Pvt) Ltd, who holds heavy mineral sand exploration tenure on the NE coast of Sri Lanka. James Global is an associate company of JAT Holdings PLC, a Colombo Stock Exchange listed company. JAT has various businesses including supplying finishing and furnishing solutions, coatings and paints to local and international markets. JAT is a significant importer of TiO2 based pigment for coatings manufacture and the proposed transaction represents a synergistic fit with TSL.