LONDON: New Frontier Minerals Ltd (LSE and ASX: NFM) announced it has signed a Memorandum of Understanding (MOU) with Austral Resources Ltd (ASX: AR1). This strategic alliance aims to leverage their combined strengths across the Mt Isa copper belt to maximize exploration and mining potential from their expanded asset base.

“This is an excellent outcome for both groups that has the potential to create significant value for stakeholders,” said Ged Hall, Chairman of NFM. “For NFM, it provides a path to production for copper ore from satellite deposits, while Austral Resources secures a new source of feedstock for its Mt Kelly facility.”

The alliance between NFM and AR1 enhances their footprint in the Mt Isa copper belt, a region dominated by major global miners such as BHP, Anglo American, and Glencore. This collaboration promises to create substantial value for stakeholders by capitalizing on the combined strengths and assets of both companies.

Austral Resources signs mining services contract with Thiess