Indigenous-owned iron ore venture gets $12m NAIF loan

Original article by Mark Ludlow
The Australian Financial Review – Page: 7 : 20-Sep-19

The federal government’s $5 billion Northern Australian Infrastructure Facility has made a $12.5 million loan to the $45 million First Iron mining project in Western Australia’s Pilbara region. The project, which is being developed by the Australian Aboriginal Mining Corporation, will use the loan to construct new supporting infrastructure for the First Iron mine, which is to supply ore for Fortescue Mining’s Cloudbreak operations. The NAIF has now awarded $1.4 billion in concessional loans to 13 projects in Australia’s north, with the NAIF stating the loans will help create over 4,000 jobs and generate $3 billion in public benefit.


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