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Fortescue Metals (ASX:FMG) -
FMG Chairman Andrew Forrest (centre) and CEO Elizabeth Gaines (right) with representatives of the Wintawari Guruma Aboriginal Corporation. Source: FMG
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  • Fortescue Metals (FMG) signs a co-management framework with members of Wintawari Guruma Aboriginal Corporation
  • The agreement has been formed for Wintawari to oversee the development of new mines at Fortescue’s Solomon Hub operations
  • Both parties will create a culturally safe mining joint venture to mine the East and West Queens deposits on Eastern Guruma country
  • The new joint venture is estimated to be worth more than $500 million, making the contract the largest awarded to an Aboriginal business by FMG
  • Fortescue Metals is down 0.67 per cent and is trading at $17.70 per share at 12:38 pm AEST

Fortescue Metals (FMG) has signed a co-management framework with members of Wintawari Guruma Aboriginal Corporation.

The agreement has been formed for Wintawari to oversee the development of new mines at Fortescue’s Solomon Hub operations.

Both parties will create a culturally safe mining joint venture to mine the East and West Queens deposits on Eastern Guruma country.

The 10 year mining services contract to be awarded to the new joint venture is estimated to be worth over $500 million, making the contract the largest ever awarded to an Aboriginal business by Fortescue.

Under the agreement, a working group will be formed to work together on all stages of the mine development from heritage and environmental approvals, resource drilling and definition and mine planning to operations and rehabilitation.

Fortescue CEO, Elizabeth Gaines, is pleased with the company’s longstanding
relationship with Wintawari Guruma Aboriginal Corporation.

“We are confident that this new collaborative framework will strengthen our ties with the Eastern Guruma People, through the unique opportunity to have a seat at the table to share cultural knowledge and guide the growth of Fortescue’s operations on their country,” Ms Gaines said.

Wintawari Chair, Glen Camille, said this new co-management joint venture
represents the next step of the groups journey with Fortescue.

“We are glad to work with Andrew Forrest and Fortescue to improve economic outcomes for Aboriginal people and thank Andrew for his demonstrated
commitment,” Mr Camille said.

“Working collaboratively, we will ensure that Eastern Guruma people are active participants in the future development of mines on our country, enabling deeper consultation around the protection of culturally significant sites while building a better future for our people.”

Fortescue Chairman, Andrew Forrest said this famework will shape a new direction for Fortescue and the Eastern Guruma People.

“Together, we will provide enduring benefit for future generations, while preserving their unique culture and heritage,” he said.

Fortescue Metals is down 0.67 per cent and is trading at $17.70 per share at 12:38 pm AEST.

FMG by the numbers
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