Brisbane, Aug 4, 2008 AEST (ABN Newswire) - North Queensland Metals (ASX:NQM) is pleased to announce the registration of three Indigenous Land Use Agreements (ILUA) covering NQM's tenements in the Herberton area.
NQM, which operates the 60%-owned Pajingo gold mine, is developing a copper-tin-silver-indium mine at Baal Gammon near Herberton and exploring the region for additional ore sources for the project.
The Agreements outline the process which the Company will follow in order to explore and develop in the areas west of Herberton encompassed by its Exploration Permits - Minerals (EPMs). The ILUAs have been signed with the Jirrbal people who have claim to land on the eastern part of the tenements around Herberton, and the Bar Barrum people who have claim to the western part of the tenements covering Irvinebank and west. A third ILUA covers the ground common ground claimed by both.
The Agreements also cover compensation and co-operative arrangements in relation to employment and business opportunities.
NQM Chief Executive Officer, Mr John McKinstry said: "It was pleasing to see the co-operation between all parties in the development of these ILUAs. As is often the case, the boundary lines are not clear cut, and it is a tribute to all involved that negotiations were concluded quickly and the Agreements registered without challenge."
The registration of the ILUAs is an important step towards the granting of the mining leases for the Herberton/Baal Gammon project.
Contact
John D McKinstry
Tel: 1300 308 832
Fax: 07 3666 0510
Email info@nqm.com.au
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