Nex Metals and WTAC Forge Groundbreaking Profit-Sharing Deal at Kookynie

A New Chapter in Indigenous Partnership

Nex Metals Explorations Ltd (ASX – NME) has taken a significant step towards fostering Indigenous economic empowerment and environmental stewardship by signing a binding term sheet with the Wangkatja Tjungula Aboriginal Corporation (WTAC), representing the Nyalpa Pirniku people. This agreement centers on the reprocessing of historical gold tailings at the Kookynie Gold Project in Western Australia's north eastern goldfields, a region rich in both mineral resources and cultural heritage.

The deal is notable not only for its commercial terms but also for its holistic approach. WTAC will receive a 35% share of net ore-sale proceeds after reimbursable costs, ensuring a meaningful economic stake. Meanwhile, Nex Metals retains 65%, balancing shareholder interests with community benefits. This profit-sharing model exemplifies a growing trend in the mining sector to align financial returns with Indigenous custodianship.

Embedding Cultural Knowledge and Environmental Responsibility

Beyond economics, the partnership commits both parties to jointly design and implement best-practice site rehabilitation. This includes cultural heritage surveys led by WTAC elders to respect significant sites, native revegetation using locally selected seed stock, and long-term water-quality monitoring with transparent reporting. Such measures reflect a deep integration of traditional land stewardship principles with modern environmental standards.

Importantly, the agreement empowers the selection of a third-party processor who shares a commitment to First Nations engagement, environmental excellence, and transparent ESG reporting. This ensures that operational execution aligns with the values and expectations of both Nex Metals and WTAC.

Building Capacity Through Training and Employment

The partnership also includes the co-establishment of a new training facility on WTAC lands. This facility will deliver on-the-job training in mining and environmental skills, with quarterly workshops and accredited certificates envisioned. The initiative aims to build long-term capability within the Wangkatja Tjungula community, creating pathways for employment and business opportunities linked directly to the project.

Nex Metals Chair Tom Percy KC highlighted the broader significance of the agreement, describing it as a practical step toward "closing the gap" by fostering a strong and equitable economic partnership. The arrangement grants WTAC the right of first refusal to undertake rehabilitation on the tenements, ensuring that cultural practices remain central to land restoration efforts.

Looking Ahead – Milestones and Market Implications

Key next steps include completing detailed metallurgical test work and finalizing the processing agreement by the end of 2025, followed by launching the first cohort of WTAC technical trainees in early 2026. These milestones will be critical in translating the agreement’s promise into tangible outcomes.

From a market perspective, the deal positions Nex Metals as a leader in integrating ESG principles with resource efficiency, unlocking value from legacy tailings without new open-pit disturbance. This approach reduces environmental footprint and carbon intensity per ounce produced, aligning with growing investor and regulatory expectations.