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Magnetite Mines (ASX: $MGT) signs historic partnering agreement with Ngadjuri Nation

Announcement of historic partnering agreement with Ngadjuri Nation


Magnetite Mines Limited (ASX: $MGT) has announced the signing of the Walking Together - One Team Partnering Agreement with Ngadjuri Nation Aboriginal Corporation, the Native Title owner of the land where the Razorback Iron Ore Project is situated. The agreement marks the culmination of two years of relationship-building and commits both parties to closely cooperate and collaborate on matters associated with the development of the mines, supporting infrastructure, land management, and economic and social development.

Ngadjuri Nation and MGT CEO's comments on the historic partnering agreement


Ngadjuri Nation Chairperson Carlo Sansbury expressed the significance of the agreement, emphasizing the importance of respect, trust, and transparency in their relationship with Magnetite Mines. MGT CEO Tim Dobson highlighted the pride in the historic Partnering Agreement, emphasizing the essential nature of mutual trust and respect for the success of the Razorback Project, spanning several generations of project partners.

Summary of the historic partnering agreement and future actions


The historic Partnering Agreement between Magnetite Mines and Ngadjuri Nation signifies a long-term, respectful, and collaborative relationship, establishing a structured pathway for project regulatory and cultural matters. The agreement aims to create enduring benefits for both partners, acknowledging the spiritual and cultural connections to Country and committing to a sustainable future across economic, social, cultural, and environmental pathways. The next actions include the negotiation of a proposed Indigenous Land Use Agreement, further characterisation of the cultural heritage environment, and investigation of 'value-add' participation programs, demonstrating a commitment to the enduring benefit of both partners and the community.

Sourcehttps://announcements.asx.com.au/asxpdf/20231221/pdf/05yt6wppl0y2h9.pdf

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