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RAPAPORT... De Beers Canada Inc. and Mountain Province Diamonds Inc., joint partners in the Gahcho Kué diamond project, entered into an impact benefit agreement with the Deninu Kue First Nation people. The agreement outlines a framework to develop economic, environmental and cultural programs with Deninu Kue First Nation members and it marks the final arrangement with local residents that is required for exploration projects in the region.
The proposed Gahcho Kué diamond mine is located 280 kilometers northeast of Yellowknife, Northwest Territories, Canada. De Beers owns 51 percent share of the project as the operator and Mountain Province holds a 49 percent stake.
"De Beers is committed to sustainable development and through this agreement, the Deninu Kue First Nation members can access new employment, training and business opportunities while ensuring strong environmental and cultural programs," said Glen Koropchuk, the chief operating officer for De Beers Canada. "We want to thank the negotiating teams on both sides for their hard work in concluding the agreement." Louis Balsillie, the chief of Deninu Kue First Nation, said, "On behalf of Deninu Kue First Nation, I am extremely pleased to be entering into an impact benefit agreement with De Beers Canada Inc. and Mountain Province Diamonds. This is a historic moment for Deninu Kue First Nation to be acknowledged by the mining industry and a very important step toward a self-sustaining future."
Mountain Province's CEO, Patrick Evans, said, "We welcome the signing of the agreement with the Deninu Kue First Nation. This agreement is the final impact benefit agreement for the Gahcho Kue project and collectively, these agreements provide a firm foundation for cooperation that will be mutually beneficial and promote the interests of all parties." The companies anticipate that the Gahcho Kué diamond project will employ nearly 700 people during its two years of construction and approximately 400 people during its operational phase.
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