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BRIEF-Aus Asia Minerals announces market update

Published 18/01/2016, 05:36 pm
© Reuters.  BRIEF-Aus Asia Minerals announces market update
AQJ
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Jan 18 (Reuters) - Aus Asia Minerals Ltd AQJ.AX :

* Market update AQJ.AX

* 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

* Source text for Eikon ID:nASX88b276

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