Strike Resources Signs MoU for San Nicolás Port, Eyes Mining Restart and Growth
Strike Resources has taken significant steps to enhance its Apurímac Iron Ore Project’s export capabilities through a new port services agreement and is progressing towards resuming mining operations. Meanwhile, its stake in Lithium Energy benefits from a major asset sale, boosting cash reserves.
- Non-binding MoU signed with Naviera Petral for San Nicolás Port export services
- Preparations underway for small-scale mining restart under REINFO regime
- Environmental and mining studies progressing to support larger-scale mining permit
- Lithium Energy completes early sale of Solaroz Lithium Brine Project, generating US$55.5 million
- Strike’s cash position remains solid at A$2.86 million despite operating outflows
Strategic Port Partnership to Unlock Export Potential
Strike Resources Limited (ASX, SRK) has moved forward with a non-binding Memorandum of Understanding (MoU) with Peruvian shipping company Naviera Petral S.A. This agreement lays the groundwork for future port services at the proposed deep-water San Nicolás Port on Peru’s southern Pacific coast, a critical step in streamlining iron ore exports from Strike’s Apurímac Iron Ore Project.
The San Nicolás Port, envisioned to handle bulk carriers up to 200,000 deadweight tonnes, is poised to become a cornerstone of an integrated logistics solution alongside the planned Andahuaylas–San Juan de Marcona railway. This infrastructure combination promises to significantly reduce Strike’s export costs and enhance operational efficiency, while also supporting regional economic development.
Advancing Mining Operations Amid Regulatory Progress
Strike is actively preparing to resume small-scale iron ore production, targeting output exceeding 60,000 tonnes per month. This approach leverages the Peruvian REINFO regime, which exempts registered informal miners from the full permitting process. The company is progressing with geological sampling, community negotiations, and securing necessary permits to facilitate this restart.
Simultaneously, Strike is evaluating proposals for a mining study and an Environmental Impact Assessment (EIA) to support a mining permit application for a medium to large-scale operation. These studies are essential prerequisites for expanding production beyond the small-scale exemption and represent a longer-term growth pathway.
Community Relations and Regional Stability Improve
Earlier protests linked to changes in the REINFO registration deadline posed challenges to development activities. However, the Peruvian Government’s extension of the registration deadline to December 2026 has largely quelled unrest, allowing Strike to re-engage with local communities constructively. Positive negotiations are advancing, which is crucial for securing social licence to operate and ensuring sustainable project development.
Corporate Update, Lithium Energy Asset Sale Boosts Cash
Strike holds a 27.7% stake in Lithium Energy Limited (ASX, LEL), which completed the early sale of its remaining interest in the Solaroz Lithium Brine Project in Argentina. The transaction has delivered US$55.5 million in cash proceeds to Lithium Energy, with potential for further contingent payments. This inflow strengthens the financial position of Strike’s associate and underscores the value of its investment portfolio.
Meanwhile, Lithium Energy continues to advance exploration across its battery and renewable energy mineral assets in Queensland and Utah, signalling ongoing growth potential in critical minerals.
Financial Position and Outlook
Strike reported operating cash outflows of A$561,000 for the quarter, reflecting ongoing exploration and corporate activities. Despite this, the company maintains a healthy cash balance of A$2.86 million, providing a buffer to support its development plans. Director remuneration payments were disclosed at A$155,000 for the period.
Looking ahead, the company’s ability to secure financing and finalise community agreements will be pivotal in advancing mining operations. The successful integration of port and rail infrastructure remains a key enabler for unlocking the full value of the Apurímac project.
Bottom Line?
Strike’s strategic moves on export logistics and mining permits set the stage for a pivotal year ahead in Peru.
Questions in the middle?
- When will the environmental impact assessment and mining permit be finalised for large-scale operations?
- What are the financing plans and timelines for restarting small-scale mining under the REINFO regime?
- How will the San Nicolás Port development timeline align with Strike’s production and export schedules?
