Australia’s first Aboriginal-owned iron ore mine
Posted on 23 September 2019
The Australian Aboriginal Mining Corporation (AAMC) is on the verge of constructing Australia’s first Aboriginal-owned iron ore mine and is currently in the process of securing $27.1 million of debt funding from the WA Department of Mines. Their intention is to involve the local community as much as possible, with hopes that the surrounding aboriginal communities can become actively involved and “share in the wealth of the land”.
“This is a landmark moment in the development of Australia’s first Aboriginal-owned iron ore producer and a wonderful milestone for Aboriginal engagement in this country’s mining industry.
“We now look forward to continuing our engagement with the WA Department of Mines, Industry Regulation and Safety to finalise the last remaining approvals as quickly as possible so that we can start construction at First Iron,” AAMC Chairman Daniel Tucker said.
They have already been approved for a $12.5m loan from the Northern Australia Infrastructure Facility (NAIF) and a $14.6m loan from Westpac bank to go towards the new development.
The mine will be developed approximately 80 kilometres north-west of Newman from old iron-ore deposit formerly known as Wonmunna.
AAMC is expecting to begin construction before Christmas, creating 120 jobs during construction and an additional 120 roles once the mine is up and running.