WA1 Resources and Tjamu Tjamu Sign Negotiation Protocol for West Arunta Project
WA1 (WA1) Share Update September 2024 Monday 16th
WA1 Resources and Tjamu Tjamu Sign Negotiation Protocol for West Arunta Project
WA1 Resources Ltd (ASX: WA1) has announced the signing of a Negotiation Protocol with Tjamu Tjamu (Aboriginal Corporation) RNTBC, representing a significant step forward for the West Arunta Project in Western Australia.
Instant Summary:
- WA1 Resources and Tjamu Tjamu sign a Negotiation Protocol.
- The protocol aims to facilitate the construction of an access road and other project infrastructure.
- A miscellaneous licence application has been lodged for the access road.
- The protocol provides a framework for consultation with native title holders.
Details of the Negotiation Protocol
On 17 September 2024, WA1 Resources Ltd (ASX: WA1) announced the signing of a Negotiation Protocol with Tjamu Tjamu (Aboriginal Corporation) RNTBC. This protocol is a crucial step towards developing the West Arunta Project, which includes the construction of an access road and other infrastructure within the Kiwirrkurra native title determination area.
The agreement aims to ensure that all parties negotiate in good faith, with the goal of reaching a mutually beneficial agreement. This includes the construction of a new access road connecting the Luni niobium deposit to the Mid-State Highway. The protocol also outlines the process for formal consultations and negotiations with the Kiwirrkurra common law holders.
Background and Significance
WA1 Resources has been working closely with the Kiwirrkurra People for over a decade, fostering a strong relationship built on mutual respect and cooperation. The company's Executive Director, Tom Lyons, emphasized the importance of this milestone, stating that the protocol is essential for obtaining the necessary licenses and approvals for the project's infrastructure.
Significant work has already been undertaken, including heritage, environmental, and engineering assessments. These efforts have culminated in the recent application for Miscellaneous Licence L80/121, which covers the preferred alignment for the proposed access road. This application will facilitate further studies and approval processes.
Community and Corporate Statements
Bobby West, Director of Tjamu Tjamu (Aboriginal Corporation) RNTBC, expressed optimism about the protocol, highlighting the importance of ensuring that the project benefits all stakeholders. He noted the positive working relationship between WA1 Resources and the Kiwirrkurra People.
Tom Lyons echoed these sentiments, emphasizing WA1's commitment to creating long-lasting benefits for the communities where they operate. He also pointed out that the negotiation protocol is part of the company's broader strategy to advance key permitting and development activities.
The signing of the Negotiation Protocol is a positive development for WA1 Resources, potentially accelerating the project's timeline. This could lead to increased investor confidence and a positive impact on the company's stock price. The formal involvement of the Kiwirrkurra People is likely to enhance the project's social license to operate, reducing the risk of delays due to community opposition.
Investor Reaction:
Analysts are likely to view this development favorably, as it demonstrates WA1 Resources' commitment to responsible and inclusive project development. The formal agreement with the Tjamu Tjamu (Aboriginal Corporation) RNTBC may also mitigate some of the risks associated with native title issues, which can be a significant concern for investors.
Conclusion:
Investors should keep an eye on further developments related to the West Arunta Project, particularly as the company progresses through the permitting and approval stages. The successful implementation of the Negotiation Protocol could pave the way for significant advancements in the project's infrastructure, potentially boosting WA1 Resources' market position.