An exploration company has reached an agreement with traditional owners at the site of a proposed iron ore mine in the Northern Territory.
The agreement was ratified at a full meeting of the Northern Land Council today.
Sherwin Iron says the deal secures the future of the mine and provides substantial benefits to traditional owners, including royalty payments.
The company expects about 200 million tonnes of ore will be produced over the mine's life, with direct investment estimated to be about $800 million.
The mine site is about 500 kilometres east of Darwin and within the boundaries of the proposed Limmen National Park.
However, the Territory Government changed the boundaries of the park and about 200,000 hectares was excised from the area.
The Roper River iron ore project has already been granted major project status the Territory Government.
It is located close to another iron ore project planned by Western Desert Resources at Roper Bar.
Sherwin Iron says its mine will create more than 200 jobs during construction, and 400 when fully operational.
It plans to transport the ore to East Arm Wharf in Darwin or send it by barge down the Roper River to a port in the Gulf of Carpentaria.