Strike Resources

Strike Resources is a small Australian Stock Exchnage listed mineral exploration company with interests in two potential iron ore mines in Peru and a small proposed coal mine in Indonesia.

Indonesian project
The Berau Thermal Coal Project is a small proposed coal mine located in 40 kilometres south-west of Tanjungredeb in East Kalimantan, Indonesia. Strike Resources states on its website that it "holds 100% of the rights to mine a coal concession (IUP), subject to paying a royalty to the IUP owner." The company states that it is aiming to establish "a mine producing up to 3Mt [million tonnes] of thermal coal per year."

However, in its quarterly report for the period to June 30, 2011, Strike Resources states that it "is in dispute with the concession owner and dispute resolution proceedings are likely." The company stated that in the quarter the company "continued negotiations to restructure the Berau Project co-operation agreement to address issues raised by Indonesia’s 2009 Mining Law. As previously announced, the position adopted by the Company’s partner has raised uncertainty about whether negotiations will succeed and dispute resolution proceedings are now likely."

Contact details
Level 8, The Forrest Centre 221 St Georges Terrace Perth Western Australia  6000 Telephone:  +61 8 9324 7100 Facsimile:   +61 8 9324 7199 Email: info AT strikeresources.com.au Website: http://www.strikeresources.com.au/

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