Transformational Partnership to drive Timor-Leste Projects
Released 20 May 25
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Transformational Partnership to drive Timor-Leste Projects
Estrella Resources (ASX: ESR) has recently formed a strategic partnership with PT Raka Energi Mandiri (REM), a prominent Indonesian mining services company, to market limestone from its Timor-Leste mining concessions. This partnership aims to capitalize on the potential of limestone sales in Indonesia, complementing the existing manganese exploration activities. Estrella will grant REM exclusive marketing and offtake rights, with an ambitious sales target of up to 500 million dry metric tonnes of limestone over five years. REM will earn unlisted share options as consideration for facilitating successful sales. The agreement is contingent upon achieving certain development milestones, including a JORC-compliant resource and completion of a scoping study by Q4 CY25.
Estrella's management views this partnership as transformative, laying the foundation for long-term commercial success in supplying high-quality limestone to Southeast Asia. The company is committed to sustainable practices and aims to contribute positively to Indonesia's mining industry. Shareholders can expect updates as Estrella progresses towards meeting the conditions outlined in the agreement. For further information or inquiries, please feel free to reach out to us.
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