Fortescue Metals Group has announced that it has signed a deal with the Australian Aboriginal Mining Corporation (AAMC) for the delivery of two million tonnes of iron ore annually for five years from Western Australia’s Pilbara.
Under the terms of the agreement, Perth-based AAMC will deliver its ore to FMG’s rail facilities where FMG will either buy the ore directly of rail, ship, market and sell it on AAMC’s behalf.
“We’re very pleased to be working with AAMC on this significant deal. Today’s agreement underlines very clearly Fortescue’s commitment to provide meaningful opportunities for Aboriginal business development and to negotiate agreements in good faith for third parties to access rail and port infrastructure on commercial terms,” said Fortescue CEO Nev Power.
“Fortescue is proud to play a role in helping Aboriginal people seize the life-changing economic opportunities that mining can offer. Providing economic participation through our land access agreements as well as the payment of Native Title Royalties is what drives real positive change in the communities in which we operate. Fortescue is focused on building up Aboriginal communities through full economic participation rather than passive welfare and today’s signing ceremony is another example of how all Australians can work together with respect to end Aboriginal disparity in our generation.”
AAMC said that the development of the mine, which is set to be Australia’s first Aboriginal owned and operated iron ore mine, will only occur when the commercial environment becomes supportive and funding has advanced significantly.
The project is backed by indigenous mining contractor Carey Mining – Australia’s leading Indigenous owned mining and civil contractor founded in 1995 by Aboriginal businessman Daniel Tucker.
 for the delivery of two million tonnes of iron ore annually for five years from Western Australia’s Pilbara.){kind=link}