TORONTO, ONTARIO--(Marketwire - Feb. 28, 2011) - Minemakers Limited (TSX:MAK)(News - Market indicators)(NSX:MMS)-
The Mining Agreement, under which the development of the Wonarah Phosphate project will be allowed by the Traditional Landowners, has been signed.
Minemakers' Mining Lease and other exploration tenements are on freehold land owned by the Traditional Owners of the district, via the Arruwurra Aboriginal Corporation.
At a ceremony in Tennant Creek on Friday, February 25, the executive of the Arruwurra Aboriginal Corporation , chair and deputy chair of the Central Land Council, and directors of Minemakers Australia Pty Ltd (a wholly owned subsidiary of Minemakers Ltd), signed the Mining Agreement.
The Agreement gives assents to the development of the massive Wonarah phosphate deposits to their eventual full potential, which includes the mining operation, beneficiation processing operations, production of fertilisers, and of all the associated infrastructure. The Agreement also provides a clear process for the protection of sacred sites, skills training and preferential job opportunities for local aboriginal people in the mining, processing and freight operations and for financial benefits to the Traditional Landowners
Minemakers acknowledges with gratitude the hard work and the spirit of cooperation and optimism between all sides exhibited over the two years of negotiations of the Agreement. That same spirit has been evident through the full three years of the Company's field investigations of Wonarah and had enabled it to begin its exploration and evaluation activities immediately after the price of phosphate increased at the beginning of 2007.
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