TIDMUFO
RNS Number : 8118W
Alien Metals Limited
14 December 2023
Trading Symbols
AIM: UFO
FWB: I3A1
14 December 2023
Alien Metals Ltd
("Alien" or "the Company")
Iron Ore Company of Australia executes Native Title Project
Mining Agreement for Hancock Project
Alien Metals Ltd (AIM: UFO), a minerals exploration and
development company, is pleased to announce its subsidiary company
Iron Ore Company of Australia ("IOCA") has signed a Mining
Agreement with the Karlka Nyiyaparli Aboriginal Corporation RNTBC
("KNAC") for its 90% owned Hancock Iron Ore Project ("Hancock
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, 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."
Further Information
Figure 1: Location of the Company's Iron Ore Projects, Western
Australia
Figure 2: Hancock Project Tenements
Further Information
IOCA and KNAC engaged in a process of informed negotiation and
consultation and have entered into the Project Mining Agreement for
the purposes of:
-- Facilitating on-going engagement between KNAC and IOCA in
relation to the conduct of Project Operations;
-- Maximising opportunities for the Nyiyaparli People to participate in Project Operations;
-- Ensuring the impacts of Project Operations on Aboriginal
cultural heritage and the environment are avoided or minimised and
mitigated;
-- Sharing the benefits of, and compensating the Nyiyaparli
People for the effect on the exercise of native title of the grant
of Project Tenure, the conduct of Project Operations and the issue
of Project Approvals;
-- Recording the terms of the Nyiyaparli Peoples' consent to the
grant of Project Tenure, the conduct of Project Operations and the
issue of Project Approvals.
Key terms of the Project Mining Agreement:
o Term: The Project Mining Agreement commences on the date
signed and is intended to continue until the date of the surrender
or expiry of the last of the Project Tenure.
o Consents: Provision of native title consents, including in
relation to the grant of M47/1633, and release from native title
compensation liability.
o Aboriginal heritage: Agreed Aboriginal heritage management
measures, including the development of a Cultural Heritage
Management Plan.
o Environmental management: Agreed processes for consultation
and communication about environmental approvals.
o Access: Measures to ensure appropriate continued access to the
land by native title holders.
o Employment, training & contracting: Measures designed to
promote employment of Nyiyaparli people and contracting of
Nyiyaparli businesses.
o Cultural awareness training : Training to build understanding
and appreciation of Nyiyaparli culture and heritage.
o Engagement: Establishment of a joint Implementation Committee
to provide a forum for ongoing consultation during Hancock Project
Operations.
o Costs & financial benefits: The Company will make various
payments on meeting certain licencing and production hurdles, with
annual administration payments and a quarterly royalty payment of
0.9% of royalty value in relation to iron ore sold which is
extracted from the relevant tenements and will cover various costs
incurred by KNAC in connection with the agreement.
o Technical & legal: The agreement includes clauses around
default, dispute resolution, confidentiality and assignment.
For further information please visit the Company's website at
www.alienmetals.uk or contact:
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Ltd
Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Charles Goodwin / Shivantha Thambirajah / Soraya Jackson Tel: +44 (0) 20 3004 9512
alienmetals@yellowjerseypr.com
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Notes to Editors:
Alien Metals Ltd is a mineral exploration and development
Company listed on the AIM market of the London Stock Exchange (LSE:
UFO). The Company's focus is on delivering a near term direct
shipping iron ore operation at the Hancock Project in the Pilbara
region of Western Australia.
In 2019, the Company acquired 51% of the Brockman and Hancock
Ranges high-grade (Direct Shipping Ore) iron ore projects and in
December 2022 moved to 90% legal and beneficial ownership. In May
2023, the Company also acquired 100% of Mallina Exploration Pty Ltd
and with it, the Western Hancock Tenement. The new tenement adjoins
the Company's existing Hancock tenement, giving the entire Hancock
project direct access to the Great Northern Highway.
The Company also acquired 100% of the Vivash Gorge Iron Ore
project in the west Pilbara in July 2022.
The Company owns 100% of the Elizabeth Hill Silver Project,
which consists of the Elizabeth Hill Historic Mining Lease and the
115km(2) exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint
venture interest in the broader Pinderi Hills tenement group in the
West Pilbara, Western Australia. This includes the Munni Munni
Platinum Group Metals Project, one of Australia's major
underexplored PGE and base metals projects. Munni Munni holds a
historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium. The Pinderi hills tenement group also has
significant Nickel and Copper prospectivity.
The Company also holds silver, copper and base metal projects in
Mexico, however is currently looking at the best way to divest
these for the benefit of shareholders.
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END
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