Strike sells Peru project

STRIKE Resources is planning to sell its “world class” iron ore assets in Peru for $US10 million to a Chinese company.

Strike sells Peru project Strike sells Peru project Strike sells Peru project Strike sells Peru project Strike sells Peru project

Zhongrong Xinda Group will buy Strike’s Apurimac and Cusco assets, subject to due diligence by April 30, 2017.

Zhongrong Xinda is said to be a large private industrial and financial group in China with $A25 billion in assets, including the Pampa de Pongo iron ore project in Peru.

Back in 2007 Strike was talking about having the billion-tonne Apurimac project, being a 40 million tonne per annum operation, in production in 2015 following staged expenditure of more than $2.6 billion.

At the time, Strike said the ore would be a mix of hematite and magnetite “which from test work to date liberates easily and produces a very grade concentrate (+65% Fe) at a better than 80% recovery at a relatively coa...