ASX-listed Iron Ore Holdings has reached a final land access agreement with the Martu Idjya Banyjima Native Title Group (MIB) covering the Phil’s Creek iron-ore project, in the Central Pilbara of Western Australia.
This was the second, and final native title agreement covering this project, ensuring that a mining tenure could now be granted.
“This is yet another milestone in the progress of the company towards production at its Phil’s Creek project. We look forward to our future collaboration with the MIB people who will also benefit as a stakeholder in our future progress,” said company MD Matt Rimes.
“The process of negotiation with MIB has allowed us to develop a solid working relationship which will also offer further employment opportunities to local communities as well as the associated financial benefits which will flow from the development of our projects.”
Iron Ore Holdings said in a statement that the agreement followed extensive consultation with the MIB, and was another step in the company’s path towards iron-ore production at Phil’s Creek.
The Phil’s Creek project was expected to be Iron Ore Holding’s first production opportunity. The formal mine gate sale agreement with diversified giant Rio Tinto was now in its final stages and production of up to 1,5 million tons a year was expected to start in late 2010.
Source: Mining Weekly
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