https://www.miningweekly.com

Strike to sell Peruvian assets

14th December 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Strike Resources has entered into a conditional agreement to sell its Apurimac and Cusco iron-ore projects, in Peru, for $10-million.

The sale agreement, which Strike signed with a subsidiary of Chinese group Zhongrong Xinda Group, is subject to the completion of due diligence, the execution of final documentation and compliance with all applicable regulatory requirements.

The due diligence will be completed by the end of April 2017, at which time the parties are expected to complete final documentation.

The Apurimac project contains a Joint Ore Reserves Committee-compliant resource of 269-million tonnes of iron-ore, and covers some 7 500 ha in the southern highlands of Peru.

Previous studies have suggested that the project could support a 20-million-tonne-a-year operation, at a capital cost of between $2.6-billion and $2.9-billion.

The Cusco project covers 3 000 ha, and has an initial inferred resource of 104-million tonnes, at 32.6% iron.

Edited by Creamer Media Reporter

Comments

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.217 0.255s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: