(Sharecast News) - Minerals explorer and developer Alien Metals announced on Tuesday that its subsidiary, the Iron Ore Company of Australia (IOCA), has finalised a Heritage Agreement (HPA) with the PKKP Aboriginal Corporation RNTBC (PKKP AC).
The AIM-traded firm described it as a crucial step of its exploration licence for the Vivash Gorge Project in the Pilbara Region of Western Australia, of which it holds complete ownership.
IOCA's exploration licence is now bounded by the new HPA, established to nurture a cooperative atmosphere for IOCA's exploration activities with the Puutu Kunti Kurrama and Pinikura people.
It said a significant aspect of the collaboration was ensuring that the exploration safeguarded the cultural heritage of the communities.
The Puutu Kunti Kurrama and Pinikura communities are recognised as the Common Law Holders over the native title determination encompassing the Vivash tenement.
Alien said the HPA was the preliminary phase in the company's interactions with the PKKP traditional owners related to the Vivash Project.
That would extend beyond a simple agreement, underscoring an ongoing commitment towards collective, long-term partnership and mutually agreed-on protective strategies for areas holding cultural significance to the PKKP communities.
Furthermore, it would furnish a framework allowing the company to conduct requisite heritage surveys.
Following the execution of the HPA, IOCA would now work with PKKP AC to conduct heritage surveys.
That would ensure that all exploration activity in the search for new prospects of iron ore resources happens while maintaining respect and protection for the cultural heritage and interests of the indigenous Puutu Kunti Kurrama and Pinikura people.
"The company and its board would like to thank the PKKP Aboriginal Corporation and its board of PKKP directors for their support in execution of the HPA," said chief executive officer Troy Whittaker.
"The Vivash Gorge prospect is an important part of the company's strategy to develop and expand its iron ore operations in the Pilbara region, Western Australia.
"Execution of this HPA allows the company to unlock this strategic tenement that sits within close proximity to proven large scale production mines like Fortescue's Eliwana and Rio Tinto's Brockman 4."
At 1558 BST, shares in Alien Metals were up 2.28% at 0.2p.
Reporting by Josh White for Sharecast.com.
Alien Metals (UFO)