- Strike Resources (SRK) is in the final stages of its native title agreement for the Paulsens East Iron Ore Project
- The company is in talks with the traditional landowners of the Pilbara region, where the project is located
- The landowners and Strike have drafted up a mining document, which will be presented to the community next month
- If this is approved, Strike will be able to continue to fast-track its Paulsens project, which could take advantage of the current high iron-ore prices
- On market close, Strike is up 3.57 per cent and is trading for 5.8 cents per share
Strike Resources (SRK) is in the final stages of its native title agreement for the Paulsens East Iron Ore Project.
The company is currently in discussions with the Puutu Kunti Kurrama and Pinikura People (PKKP). The PKKP are traditional owners of the land in the Pilbara region of Western Australia, where the project is located.
A formal mining document has been drafted by representatives of Strike and the PKKP. The document will be reviewed at the PKKP community authorisation meeting, which is scheduled for next month.
If this is approved by the community, Strike will be able to continue to fast-track its Paulsens project, which will take advantage of the current high iron-ore prices.
“I would like to thank the representatives of the PKKP for their efforts in settling the terms of the agreement, which will now be considered by the wider PKKP community members,” Managing Director William Johnson said.
“The settled terms of the draft mining agreement, if approved by the community members in August, will provide significant benefits for the PKKP over the forecast life of mine and will allow Strike to continue to fast track development of the project,” he added.
Currently, Strike has completed a scoping study on the project and is targeting a production of 1.5 million tonnes per annum of lump and fines direct shipping iron ore (DSO). The project has a four-year life of mine, which will commence in 2021.
On market close, Strike is up 3.57 per cent and is trading for 5.8 cents per share.