His Excellency Francisco da Costa Monteiro, Minister of Petroleum and Mineral Resources, held a meeting with the Executives of the Australian company Estrella Resources, Ltd. This company focuses on mineral exploration.
In the recent month of October, the National Mineral Authority (ANM) announced that, out of 14 competing companies, 9 were admitted in the pre-qualification process, including Estrella Resources, to conduct metal and mineral exploration in Timor-Leste.
The tender process is based on the procedures outlined in Law Number 12/2021, dated 30 June, which approved the Mining Code and defined the criteria for companies competing in mineral exploration.
The exploration of mineral blocks, which, according to preliminary studies, show potential for minerals and metals whose exploitation could have significant value in the international market, is also expected to support the economy of Timor-Leste.
