Flinders Mines Limited (Flinders or the Company) has now reached an important milestone in the proposed development of its Pilbara Iron Ore Project (PIOP) with all conditions precedent for its farm-in incorporated joint venture with BBI Group Pty Ltd. being satisfied or waived. As previously announced, BBIG recently received FIRB approval and a number of remaining conditions precedent have now been met which means that the proposed farm-in incorporated joint venture with BBI Group Pty Ltd. (BBIG) can proceed. The joint venture will have a Board initially consisting of three Flinders' representatives and one BBIG representative and it will oversee the project development as laid out in the agreements approved by Flinders' shareholders on 3 March 2020. The formation of the joint venture will allow BBIG to continue advancing the feasibility studies for the PIOP development and perform its other obligations under the Farm-In Agreement for its initial 10% voting interest in the incorporated joint venture entity, PIOP Mine Co NL. Flinders retains 100% economic ownership of PIOP Mine Co NL until a final investment decision by BBIG.