(Alliance News) - Alien Metals Ltd on Thursday said it has struck a deal with the Karlka Nyiyaparli Aboriginal Corp RNTBC to collaborate on the Hancock iron ore project in Pilbara, Western Australia.
Alien Metals is an Australia-focused minerals exploration and development company. It is developing a near-term, direct shipping, iron ore operation at Hancock and owns 90% of the project.
Alien Metals said subsidiary Iron Ore Co of Australia's deal 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."
The Nyiyaparli People, as represented by KNAC, are the traditional owners of 36,684 square kilometres of land and waters in the east Pilbara region, including the Newman township.
The determination area covers 40,000 square kilometres of Nyiyaparli traditional country, and encompasses Newman, the Aboriginal communities of Jigalong and Parnpajinya, several pastoral leases, as well as significant mining operations.
It also includes places of particular significance to the Nyiyaparli People, including ceremonial sites, song lines, permanent pools, and natural resources.
The deal includes royalty payments to be paid to a trust for the benefit of Nyiyaparli People, management measures relating to Aboriginal cultural heritage, the environment, land access, employment, training and contracting, cultural awareness training.
It also includes the establishment of an implementation committee for ongoing consultation between the parties regarding Hancock operations.
Chief Executive Officer Troy Whittaker said: "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."
Shares in Alien Metals were trading 6.6% higher at 0.29 pence each in London on Thursday afternoon.
By Sabrina Penty, Alliance News reporter
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Alien Metals (UFO)