Strike Resources has signed a non-binding Memorandum of Understanding with Naviera Petral to develop port infrastructure in Peru, supporting the export of its high-grade Apurimac iron ore. This strategic move aims to reduce logistics costs and pave the way for a return to production.
- Non-binding MOU signed with Naviera Petral for San Nicolas Port development
- Port to handle bulk iron ore exports from Apurimac Project with deep-water facilities
- Integration planned with Peruvian Government’s Andahuaylas–San Juan de Marcona Railway
- Apurimac Project hosts 269 Mt of high-grade iron ore at 57.3% Fe
- No immediate financial commitment; definitive agreement pending technical and regulatory approvals
Strategic Partnership for Port Development
Strike Resources Limited (ASX – SRK) has taken a significant step towards revitalising its Apurimac Iron Ore Project in Peru by signing a Memorandum of Understanding (MOU) with Naviera Petral S.A., a Peruvian port development and logistics company. The agreement outlines a framework for the future development of the San Nicolas Port Project on Peru's southern coast, designed to support the handling, storage, and export of iron ore from Strike’s flagship project.
Port Infrastructure and Export Capacity
Under the MOU, Petral controls approximately 294 hectares of coastal land and approved aquatic areas suitable for constructing a deep-water port. The proposed infrastructure includes bulk material reception, stockpiling, weighing, conveyor-based ship loading, and berth facilities capable of handling vessels ranging from 60,000 to 200,000 deadweight tonnes. Initial ship loading rates are estimated at around 20,000 tonnes per day, positioning the port as a scalable export hub for Strike’s high-grade iron ore.
Synergy with Railway Development
The port project is strategically aligned with the Peruvian Government’s plans for the Andahuaylas–San Juan de Marcona Railway corridor. This rail link is expected to significantly reduce logistics costs and improve export efficiency by connecting the inland Apurimac mining region with the coastal port. Together, these infrastructure developments could enhance the economic prospects of southern Peru and facilitate Strike’s ambitions to resume production.
Robust Mineral Resource Base
Strike’s Apurimac Iron Ore Project boasts a substantial JORC-compliant Mineral Resource of 269 million tonnes at an average grade of 57.3% iron. This includes 142 million tonnes in the Indicated category and 127 million tonnes Inferred, underscoring the project’s potential as a world-class magnetite deposit. Previous shipments of premium lump direct shipping ore have demonstrated the quality and market interest in the resource.
Next Steps and Outlook
The MOU is non-binding and non-exclusive, with an initial term of 12 months and no immediate financial obligations for Strike. Both parties plan to advance technical studies and secure regulatory and community approvals before negotiating a Definitive Commercial Agreement. If successful, port construction and commissioning could occur within approximately three years, marking a critical milestone in unlocking the value of the Apurimac Project.
Bottom Line?
Strike’s port partnership sets the stage for a potential production revival, but key approvals and agreements remain to be secured.
Questions in the middle?
- When will Strike and Petral finalise a Definitive Commercial Agreement?
- How will regulatory and community approvals impact the project timeline?
- What are the projected capital costs and financing plans for port construction?