An Aboriginal Mining Company Sharing in
the Wealth of the Land
Established in 2013 the Australian Aboriginal Mining Corporation Pty Ltd (AAMC) is a private company with a core strategy to develop Australia’s first substantively Aboriginal owned, managed and operated iron ore mine in the central Pilbara region of Western Australia.
Our Chairman Daniel Tucker, an appointee to the inaugural Prime Minister’s Indigenous Advisory Council, and Managing Director of Carey Mining (Carey), is a highly respected and successful Aboriginal leader and businessman. Under Daniel’s stewardship AAMC will create opportunities for Australian Aboriginal communities and businesses to become actively involved in mainstream mining businesses and to share in the wealth of the land.
On 4th September 2013 AAMC completed the purchase of the Extension Iron Ore Project from Iron Ore Holdings. The Extension project is adjacent to, and shares the same orebody genesis, as the neighbouring BHPB Yandi and the Rio Tinto Yandicoogina iron ore projects.
Iron ore has been mined from the Yandi and Yandicoogina projects since 1991 with their combined operations currently producing circa140Mt of iron ore per year. The iron ore type and quality from these projects are well known to international steelmakers.
On 13th May 2015 AAMC was granted conditional environmental approval by the Minister for the Environment for the construction and up to 4Mtpa operation of the Extension iron ore mine under the Environmental Protection Act 1986.
On 20th November 2017 AAMC executed an Iron Ore Sales and Purchase Agreement with Fortescue Metals Group Limited (Fortescue). Under this agreement AAMC may deliver iron ore to Fortescue’s Cloudbreak mine site where the ore will be sold to Fortescue.
On 8th March 2018 AAMC entered into a term sheet with Ascot Resources Pty Ltd (Ascot) concerning the purchase of the Wonmunna Iron Ore Project (Wonmunna). Under this term sheet AAMC is working exclusively with Ascot to finalise documentation in relation to the acquisition with the expectation that the formal sales and purchase agreement will be executed in April 2018.
Wonmunna is production ready with permits in place to produce up to 5Mtpa of a high quality iron ore.
AAMC is now working to secure the funding that is required to complete the Wonmunna transaction and to develop the Wonmunna operations. First construction is expected in 3rd quarter 2018 with first production to follow, after a 3 month pre-strip period, in 4th quarter 2018.