Today's press release, announced after market....
28th July 2008
Gallagher invests $100million in Strike Resources Limited
Gallagher Holdings Limited (“Gallagher”) today announces that it has agreed
to invest up to $100 million in Strike Resources Limited (“Strike”), an
Australian Stock Exchange (ASX) listed company.
Strike is an Australian based mineral exploration and development company
with a diversified asset portfolio including hematite and magnetite iron ore
projects in Peru, hematite and mineral sands projects in Australia and thermal
coal projects in Indonesia.
This investment will principally be used for the development of the flagship 20
million tonne per annum (Mtpa) iron ore project in Peru, as well as
accelerating the development of the 1-2 Mtpa Cuzco Lump project also in
Peru.
Commenting on the investment, Farhad Moshiri, Chairman of Gallagher, said:
“Strike Resources has a great opportunity in Peru to develop a major iron ore
mine and we are delighted to support the acceleration of that through our
investment in a strategic stake. With our mining industry knowledge and
expertise, along with the financial support, we are confident of the strong
contribution we can make to Strike and its successful development for the
future.”
Add to My Watchlist
What is My Watchlist?
