Alien Metals Ltd (LON:UFO), a minerals exploration and development company, has announced its subsidiary company Iron Ore Company of Australia has signed a Mining Agreement with the Karlka Nyiyaparli Aboriginal Corporation RNTBC for its 90% owned Hancock Iron Ore Project, in the Pilbara Region, Western Australia.
Highlights:
· The Nyiyaparli native title determination spans the Hancock Project and associated tenements. KNAC is the registered native title body corporate for the Nyiyaparli native title determination.
· Collaborative relationships between the Company and the Nyiyaparli People have been established through the negotiation process.
· In exchange for native title consents to the grant of Project Tenure, the Mining Agreement includes milestone and ongoing royalty payments to be paid to a trust for the benefit of Nyiyaparli People; agreed management measures relating to Aboriginal Cultural Heritage, the environment, land access, employment, training & contracting, cultural awareness training, and the establishment of an Implementation Committee to provide a forum for ongoing consultation between the parties during the Hancock Project operations.
· The Project Mining Agreement agreed with KNAC should pave the way for the granting of mining lease M47/1633 at the Hancock Project and is a key milestone on the pathway towards the development of Hancock Project.
Troy Whittaker, Alien Metals Chief Executive Officer commented:
“The Company and its Board would like to again thank the Karlka Nyiyaparli Aboriginal Corporation and its Board of Directors for their support in reaching this significant milestone. We are delighted to have finalised the Mining agreement and we look forward to the ongoing relationship with the Nyiyaparli People.”
“Signing of the Mining Agreement is a significant milestone for the Company, which means the project is now substantially de-risked and will support the next phase of development and approvals required for the Hancock Project, which includes the submission of the mining proposal for the project.”
