Key Highlights

•  Timor-Leste's government approved export of the Ira Miri manganese bulk sample parcel, totalling about 27,000 tonnes, through the Tenu Port Facility.

•  The company's priorities are finalising a binding sales agreement, completing the Tenu causeway and loading arrangements, and transferring ore to the customer's ship.

•  A binding sales contract has not yet been finalised, and the manganese grade, customer, pricing and shipment dates were not disclosed.

Estrella Resources (ASX:ESR) is preparing to ship its first manganese bulk sample from Timor-Leste after the country's government approved export of the parcel through the Tenu Port Facility. The company first advised the authorisation on 13 October 2026, and an update reported on 28 October 2026 described the physical and commercial work now under way to get the material to a buyer.

The parcel comes from the Ira Miri manganese bulk sample programme and totals about 27,000 tonnes. Export approval moves the programme from extraction and stockpiling towards sale, although a binding sales contract has not yet been finalised.

Background to the bulk sample

In January 2026 Estrella signed an agreement with Timor-Leste's National Minerals Authority, known as ANM, authorising the extraction of up to 30,000 tonnes of manganese for market appraisal. The purpose of such a parcel is to test the product with customers, establish delivery requirements and inform discussions on longer-term supply.

Estrella describes itself as an explorer with projects and mineral rights in Western Australia, but its current focus is its Timor-Leste portfolio. The company said the bulk sample also supports its work towards a Category A mining licence, which would be needed for ongoing commercial production.

Logistics at Tenu

According to the update, construction of a causeway is under way at Tenu. The manganese will be loaded onto a barge and then transferred to the customer's vessel offshore. Crews have begun moving ore from the stockpile to the loading area.

The company said signing the sales agreement had depended on receiving export approval. With that condition met, Estrella now needs to settle binding commercial terms and finalise shipping arrangements, and it has said it will report on these as they are completed.

Managing director Robert Mencel said the focus now is on "completing the commercial and logistics arrangements needed to deliver it".

Why it matters

For a junior explorer, moving a bulk sample through to export is a practical test of whether a new jurisdiction can support a mining operation. It involves permitting, local infrastructure, port handling, marine logistics and buyer acceptance, all of which must work together before a larger project can be credibly planned.

The process followed for this parcel may also help clarify the regulatory and logistical pathway that any future operation in the country would need to follow. A successful shipment would give Estrella direct market feedback on its manganese product and could strengthen its case in licensing discussions with authorities.

Limitations and risks

The approval is narrow in scope. It covers only the market appraisal parcel and does not authorise ongoing commercial mining. It also does not represent a completed sale, and no revenue has been recognised.

Several details were not disclosed, including the manganese grade of the parcel, the identity of the customer, pricing, expected shipment dates and how the programme is being funded. Without that information, the potential financial contribution of the shipment cannot be assessed.

Practical risks include delays in completing the causeway, weather affecting barge operations, and the possibility that commercial negotiations take longer than expected or result in less favourable terms. Manganese prices can also move significantly over short periods. Beyond this parcel, the company will still need to secure a Category A mining licence, and the timing and conditions of any such licence are not yet known.

Next steps

Estrella's disclosed priorities are finalising a binding sales agreement, completing the Tenu causeway and loading arrangements, and coordinating the transfer of ore to the customer's ship. The company has indicated it will update the market as those steps are completed, and it intends to use the outcome to inform longer-term supply discussions and its pursuit of a mining licence.