Estrella Resources (ASX:ESR) has become the first foreign entity to be granted mining acreage in Timor-Leste under that country’s new mining laws enacted in 2021. Estrella established a JV company in Timor-Leste earlier this year in June on a 70/30 split in Estrella’s favour with another entity called Murak Rai Timor. In 2023, Estrella and two other companies – publicly listed Beacon Resources and private Iron Fortune Pty Ltd – won early-stage concessions in a tender round. It appears the Timor-Leste government is most enthusiastic about Estrella. The 2024 JV deal became the subject of a Timor…
