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Lutsel K’e and Kache Dene and De Beers Canada conclude Snap Lake Impact Benefit Agreement

by NationTalk on April 28, 20071916 Views

YELLOWKNIFE, NW, April 27 – De Beers Canada Inc. is pleased to announce that an Agreement has been reached on the terms of an Impact Benefit Agreement (IBA) for the Snap Lake Mine. This follows a community ratification process held on April 23, 2007 in which the Lutsel K’e and Kache Dene First Nation members voted in favor of accepting the Agreement. The Impact Benefit Agreement sets out the commitments made by De Beers and Lutsel K’e and Kache Dene First Nation. It outlines the way the parties will work together to mitigate impacts the project may have.

“This is good news for the community and the company,” said Chantal Lavoie, Vice President – NWT Projects, reflecting on the positive results of the ratification vote. “We have always ensured that Lutsel K’e has benefited from the advancement of Snap Lake while the Agreement has been in negotiation. With the conclusion of this Agreement, we now have a formal framework for a long term relationship, based on mutual respect.”

“This Agreement confirms community support for the success of the Snap Lake Mine and establishes the way through which Lutsel K’e will share in the benefits of our success,” said Jim Gowans, President and Chief Executive Officer. “Lutsel K’e agrees to respect the rights, licenses, permits and authorizations to construct and operate the mine and De Beers is providing benefits such as training, education, employment, business opportunities and financial compensation.”

This is the final of four Impact Benefit Agreements that De Beers has negotiated for the Snap Lake Mine. Previous Agreements have been concluded with the Yellowknife Dene First Nation (November 2005), The Tlicho Government (March 2006) and the North Slave Metis Alliance (August 2006).

The official signing ceremony for the Impact Benefit Agreement with Lutsel K’e will take place on Aboriginal Day, June 21, 2007 in Lutsel K’e, NT.

For further information: Cathie Bolstad, Manager Public & Corporate Affairs – NWT Projects, De Beers Canada Inc., Phone: (867) 766-7325, Fax: (867) 766-7347; Linda Dorrington, Director Public and Corporate Affairs, De Beers Canada Inc, Tel: (416) 645-1710 ext 2107, Mobile: (416) 818-2254

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