TIMOR-LESTE Law and Practice Contributed by: João Afonso Fialho, Tomás Cabral Anunciação and Teófilo de Jesus, VdA
and silver, in addition to minerals such as kao - lin and, potentially, phosphate, with significant potential for development. Nine companies (most of which are based abroad, in Australia, India, Indonesia and Sin - gapore) were qualified under the public tender. In late November 2023, the government announced four companies as the bid winners of the public tender: Estrella Resources, Peak Everest Mining, Iron Fortune and Beacon Minerals. In particular, Estrella Resources was officially awarded three promising mining concessions by the government in the Lautém Municipality in March 2024. Afterwards, in June 2024, this company entered into a joint venture with the state-owned company Murak Rai Timor, EP to perform the mining activities in Lautém, in highly prospective areas for manganese, copper and gold mineralisation.
With the creation of a solid legal framework through the Mining Code and other relevant reg - ulation, the development of the mining industry in Timor-Leste is expected to take off, with the ongoing mapping of mining areas, the publicis - ing of the country’s mining potential to attract the numerous mining companies operating in the region, and the effective award of mineral rights by the government to the mining compa - nies, through public tenders such as the one in 2023. Timor-Leste’s robust and investor-friendly legal framework, the success of the first public tender and the global demand for minerals will certainly attract investors in the future.
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