Iron Ore Holdings signs native title land access deed in Pilbara, Australia

27 November 2012 (Last Updated November 27th, 2012 18:30)

Western Australia-based Iron Ore Holdings has signed a Native Title Land Access Deed with the Yaburara Mardudhunera (YM) Native Title claimant group.

Iron ore, Pilbara

Western Australia-based Iron Ore Holdings has signed a Native Title Land Access Deed with the Yaburara Mardudhunera (YM) Native Title claimant group.

With the YM land access deed, the company can now proceed with exploration, mining and infrastructure work on tenements within the YM area, including Cape Preston East and the nearby Maitland River and Mardie areas.

The deed is also strategic for the development of IOH's Buckland project comprising the Bungaroo South mine and a dedicated haul road.

IOH has plans to construct a small-scale barging facility at Cape Preston East, designed to support the Bungaroo mine's production of nearly eight million tonnes of iron ore a year.

Produce from the barging facility would additionally reinforce the company's exports from the Maitland River project and the Mardie Salt Project, both of which are located 15km west and 50km south of Cape Preston East respectively.

As part of the deed, IOH is obliged to pay as per the milestones and production from the project, as well as complying with cross-cultural exchanges and employment for the native residents.

The deed allows IOH to apply for a mining lease at the Maitland River project, where the company has currently undertaken an assessment study to determine the potential of the 1.1 billion tonne inferred mineral resource.

IOH managing director Alwyn Vorster remarked that this is the company's fifth such deed in Pilbara.

"This Land Access Deed reinforces the strong relationship that IOH has established with the YM people.

"Furthermore, it provides additional clarity to progress barge facility options for the Cape Preston East area," Vorster added.


Image: Iron Ore Holdings is an Australian company with established iron ore projects in the Pilbara region of Western Australia. Photo: Iron Ore Holdings Ltd.