Magnetite Mines Limited.
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Why Are Magnetite Mines and Ngadjuri Nation Partnering?
Magnetite Mines and Ngadjuri Nation: Pioneering Partnership for Sustainable Mining
In a landmark move, Magnetite Mines Limited (ASX:MGT) has signed a historic Partnering Agreement with the Ngadjuri Nation, the Native Title owner of the land hosting the Razorback Iron Ore Project.
A New Era in Indigenous Collaboration
The 'Walking Together – One Team' Partnering Agreement is a testament to the commitment of Magnetite Mines towards sustainable and inclusive development. This agreement, a voluntary initiative, sets a new standard in the industry for collaboration with indigenous communities.
Key Features of the Agreement
Mutual Respect and Collaboration: The agreement fosters a relationship built on mutual trust, respect, and transparency. It acknowledges the Ngadjuri Nation’s deep connection to their ancestral lands and aims to ensure their involvement in decision-making processes.
Long-term Benefits: Aimed at delivering enduring benefits for both the Ngadjuri Community and Magnetite Mines, the agreement focuses on equality, collaboration, and culturally-safe processes.
Ngadjuri Nation's Perspective
Carlo Sansbury, Ngadjuri Nation Chairperson, emphasized the importance of walking together in respect for their culture, heritage, and connection to the Country.
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He highlighted the opportunities this partnership offers for future generations of the Ngadjuri community.
Magnetite Mines’ Vision
CEO Tim Dobson expressed pride in this historic agreement, noting that it was built on a foundation of mutual trust and respect. He stressed that the principles of equality, collaboration, communication, and care are integral to the success of the Razorback Project, which spans several generations.
The Razorback Iron Ore Project
Project Location: The Razorback Iron Ore Project, located 240km from Adelaide, South Australia, is at the heart of this partnership.
Project Scale: With a 100% owned Mineral Resource of 6 billion tonnes of iron ore, the project is poised to be a long-life iron ore operation with significant expansion potential.
Building the Partnership
The signing of the agreement is the result of two years of relationship-building, including heritage surveys, site visits, and community sessions. This process underlines the importance of understanding and respecting the cultural heritage of the Ngadjuri Nation.
The Signing Ceremony
A formal ceremony on Ngadjuri Country marked the signing of the agreement. Attended by Magnetite Mines’ staff, Ngadjuri Nation Board Directors, community members, and government officials, the event symbolized the shared commitment of both parties.
Next Steps and Future Plans
With the agreement in place, Magnetite Mines and Ngadjuri Nation will embark on several key initiatives:
Indigenous Land Use Agreement (ILUA) Negotiations: This will be a crucial next step in formalizing the partnership.
Cultural Heritage Management Plan: Further characterizing the Razorback Project’s cultural heritage environment.
Participation Programs: Exploring opportunities for employment, cultural heritage, and land management.
Magnetite Mines: A Brief Overview
Magnetite Mines is focused on developing magnetite iron ore resources in South Australia. The Razorback Iron Ore Project is set to meet the growing demand for premium iron ore products, especially in the context of the steel sector's decarbonization efforts.
The partnership between Magnetite Mines and the Ngadjuri Nation marks a significant milestone in the mining industry, setting a precedent for respectful and mutually beneficial collaboration between corporations and indigenous communities. This initiative not only respects the cultural heritage and rights of the Ngadjuri Nation but also paves the way for sustainable development in the mining sector. As the Razorback Project progresses, it will stand as a model for responsible mining practices, balancing economic development with social and cultural respect.
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