Australian mining giant Rio Tinto announced on June 3 that it has signed a contract on land use partnershipping with five indigenous groups across the Pilbara region of Western Australia. The agreement secures the current and future operations of Rio Tinto's iron ore business while ensuring the full engagement and participation of the region's traditional owners.
Participation agreements providing for the long-term access and land use of the area cover an estimated 71,000 square kilometers in total.
Rio Tinto is also in advanced negotiations with the four remaining indigenous groups upon whose land the mining or infrastructure operations are situated. Those agreements are expected to be concluded before the end of this year.
Meanwhile, according to other media sources, the traditional owners of the land will receive up to $2 billion under a profit-sharing agreement and will get jobs in the company's mines.