Gahcho Kué Joint Venture and Tłı̨chǫ Government Sign IBA
Yellowknife, NT, Toronto, ON, New York, NY (January 27, 2013) – De Beers Canada Inc. (De Beers) and Mountain Province Diamonds (TSX: MPV, NYSE MKT: MDM) are pleased to announce that De Beers, as Operator of the Gahcho Kué Project, has entered into an Impact Benefit Agreement (IBA) with the Tłı̨chǫ Government for the proposed Gahcho Kué Mine. The agreement puts in place a framework for De Beers and the Tłı̨chǫ Government to work together over the life of the mine enabling participation by the Tłı̨chǫ in the opportunities that the mine provides.
"The Gahcho Kué Project is located within Mǫwhì Gogha Dè Nı̨ı̨tłèè, an area which the Tłı̨chǫ have traditionally used and occupied and the protection of the land, water, wildlife and our way of life has guided our negotiating team,” said Grand Chief Eddie Erasmus. “This agreement confirms our relationship with De Beers, so that we will work together over the life of the mine to ensure there are many training, employment and business opportunities from the Project for Tłı̨chǫ citizens. It also includes financial provisions that enable the Tłı̨chǫ Government to participate in the opportunities that the Project provides.”
“Our relationship with the Tłı̨chǫ is important to us, said Glen Koropchuk, Chief Operating Officer for De Beers. “This Impact Benefit Agreement builds on the relationship we have already established for the Snap Lake Mine and confirms our commitment to work together for the benefit of the Tłı̨chǫ people with the Gahcho Kué Project. I would like to congratulate both negotiating teams on this important accomplishment.”
Gahcho Kué will employ close to 700 people during the two years of construction and close to 400 people during its operational phase. The Gahcho Kué life of mine is approximately 11 years in duration and will mine about 31 million tonnes of ore containing an estimated 49 million carats.
Gahcho Kué is a joint venture between De Beers (51%) and Mountain Province Diamonds (49%) and is located 280 km northeast of Yellowknife, Northwest Territories.
The agreement was signed in Yellowknife on Friday, January 24, 2014.
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