Australian miner
Fortescue Metals Group has announced that it has signed a land access agreement with the native title holders Njamal People for the North Star and Glacier valley magnetite projects in the Pilbara region of Western
Australia.
Under the production sharing agreement, a joint venture will be created between the native title holders and
Fortescue to run a
mining operation on an ore body near the main North Star mine.
North Star, wholly owned by
Fortescue and Glacier Valley, the joint venture with Chinese steel giant Baosteel, has total resources of 2.5 billion mt.