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RAPAPORT... De Beers Canada and Mountain Province Diamonds entered into an impact benefit agreement with the North Slave Metis Alliance for the Gahcho Kué diamond project in Canada. The agreement sets in place a framework for De Beers and the North Slave Métis Alliance to optimize local participation in the Gahcho Kué mine for the purposes of employment, business opportunities, training and development and financial benefits. "This is the first impact benefit agreement to be concluded for the proposed Gahcho Kué mine," said Glen Koropchuk, the CEO of De Beers Canada. "The two negotiating teams worked hard and efficiently to complete this agreement, which is mutually beneficial and builds on the strong relationship already established. It incorporates the shared learning we have from our experience working together over the years at the Snap Lake mine, which is also operated by De Beers. The negotiation of further impact benefit agreements is continuing." Bill Enge, the president of the North Slave Metis Alliance, said, "The life-of-mine impact benefit agreement that we signed with De Beers for the proposed Gahcho Kué diamond mine ensures the North Slave Métis people will benefit from this development. We're looking forward to working with and strengthening our relationship with De Beers. They have a great track record of working with us with respect to their Snap Lake diamond mine and we have every reason to believe their Gahcho Kué mine track record will be matched." The Gahcho Kué diamond mine anticipates an operating life of approximately 11 years and it expects to employ up to 700 people during construction and approximately 400 people during operations. It will produce on average 4.5 million carats annually over its mine life.
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