News: AQJ Aus Asia Minerals announces market update

Jan 18 (Reuters) - Aus Asia Minerals Ltd (AQJ) :

• Market update (AQJ)
• Due to the falling commodity prices, krakatau steel have temporarily stopped

  production at its blast furnace in cillegong, java

• Says additionally under Indonesian mining law, iron ore cannot be exported
• Company has temporarily suspended operations under the solok project until

  there is a market for its iron ore resources

• Due to the current trading difficulties the company has stopped all

  expenditure, including salaries"

• Co is currently in talks with potential end users both within Indonesia and

  throughout Asia

• Company is in negotiations with certain parties for funding to be provided to

  allow these discussions and plans to be finalized

• Creditors of company are currently being contacted to seek their support and

  to seek agreements regarding the outstanding amounts