Dambimangari Traditional Owners have backed a new ownership deal for Koolan Island, saying it could support greater access to Country and long-term benefits for the Dambeemangaddee community.

Koolan Island, off WA's Kimberley coast in the Buccaneer Archipelago, has long been used for iron ore mining and is home to major infrastructure, including a deep-water port, aerodrome, accommodation facilities and a cyclone shelter.

Crestlink Koolan Pty Ltd, part of the Crestlink Group, has entered a binding agreement with MGX Resources Limited, formerly Mount Gibson Iron Limited, to acquire the subsidiary entities that own the Koolan Island tenements, infrastructure and certain assets.

The deal is expected to be completed in late 2026 or early 2027.

Dambimangari Aboriginal Corporation chair and Dambeemangaddee Traditional Owner Gary Umbagai said the organisation was hopeful about what the deal could mean.

"DAC supports Crestlink's acquisition of the Koolan Island assets, and we're hopeful about what this can mean for our people, our community and the future of the region," Mr Umbagai said.

"We've been working alongside Crestlink for a long time now, and we've built that relationship properly — through respect, listening and sitting down together on Country.

"For us, it's important that any future for Koolan Island looks after Country, respects our cultural responsibilities and creates something positive for the next generation of Dambeemangaddee people."

Mr Umbagai also acknowledged MGX for its relationship with DAC over many years on Koolan Island.

Under the agreement, Crestlink can begin permitting, approvals and preparatory work before the transaction is completed.

MGX will continue to manage operations at Koolan Island until the deal is finalised and is carrying out rehabilitation works under its approved mine closure plan.

Crestlink founder and chief executive Eanna Doolin said Koolan Island's existing infrastructure made it a significant regional asset.

"We know there is strong demand for infrastructure that can support operations in and around the Browse Basin and across Northern Australia, and Koolan already has much of what is needed in place," Mr Doolin said.

"Our focus is on working closely with our key stakeholders, and building on our partnership with DAC, to ensure this infrastructure supports long-term economic, logistics and community outcomes."