Aztec Resources today announced an in principle agreement had been reached with the native title claimants to Koolan Island, the Dambimangari people. Under the terms of the co-existence Agreement, the Dambimangari People representatives have agreed to allow mining operations and infrastructure works and the grant of Mining Leases and Miscellaneous Licences for the establishment of the Koolan Island Iron Ore Project. Final sign-off on the Agreement remains subject to the authorisation process under the Native Title Act by the Dambimangari People, which is expected to occur in early next month. The Chairman of Aztec, Mr Ian Burston said, "this is a significant milestone for the company and the Dambimangari people as it opens the door for project activities to commence as early as April 2006."
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