Avenira signs mining agreement with Arruwurra Aboriginal Corporation

Avenira (ASX:AEV) and Arruwurra Aboriginal Corporation have signed an agreement allowing Avenira to continue developing the Wonarah phosphate project in the Northern Territory.

The agreement gives Avenira continuous support for the project while delivering confidence to the Arruwurra members regarding sustainable commercial outcomes, social benefits and cultural matters.

Additionally, it provides a strong commitment to create mutual benefits while respecting the traditional lands, activities, values and rights of Arruwurra members.

Avenira chairman and chief executive officer Brett Clark said he is pleased to have reached an agreement and will continue to respect the land.

“We will continue to respect the land, tradition and culture of the Arruwurra members whilst doing our best to share in the economic and social benefits of our investment on Arruwurra lands,” he said.

“This is just the beginning of a strong sustainable partnership with Arruwurra members and look forward to the community benefits that will be reaped from our ongoing success at Wonarah.”

In respect of the mineral leases, Avenira will pay $434,750 per year with $159,750 to be paid within seven days. The balance will be paid via the issue of 20m shares.

Arruwurra’s chairman Allen Punch said members will benefit from the work.

“In this agreement, we have developed a strong framework for the protection of our lands, and certainly that our members will fairly benefit from the mining work undertaken, including employment, training and the establishment of sustainable Arruwurra businesses, which support the mining operation,” he said.

“Each of these qualities are fundamental to building a solid long term relationship.”