Gahcho Kué Joint Venture And Nwt Métis Nation Sign Impact Benefit Agreement
De Beers Canada Inc. (De Beers) and Mountain Province Diamonds (TSX: MPV; NYSE MKT: MDM) are pleased to announce that an Impact Benefit Agreement (IBA) has been entered into with the NWT Métis Nation (NWTMN) for the proposed Gahcho Kué diamond mine, a joint venture between De Beers (51%) and Mountain Province Diamonds (49%) located 280 kms northeast of Yellowknife, Northwest Territories. De Beers is the Operator of the Gahcho Kué Project.
The IBA puts in place a framework for De Beers and the NWT Métis Nation to work together over the life of the mine to develop economic, environmental and cultural programs with NWTMN members.
“De Beers is committed to sustainable development and through this Agreement the NWT Métis Nation members can access new employment, training and business opportunities while ensuring strong environmental and cultural programs,” said Glen Koropchuk, Chief Operating Officer for De Beers in Canada. “We want to thank the negotiating teams on both sides for their hard work in concluding the IBA.”
“De Beers Canada has earned the respect of the Northwest Territory Metis Nation and enhanced its social licence entering into this Impact Benefit Agreement, which will provide socio-economic benefits; including employment, training and business opportunities for our Indigenous Metis members on an equitable basis as other Aboriginal parties with IBAs.” said Garry Bailey, President of the Northwest Territory Metis Nation.
Gahcho Kué will employ close to 700 people during the two years of construction and approximately 400 people during its operational phase
Director of External & Corporate Affairs
De Beers – Mining, Canada
Tel +1 (416) 645-1710, ext 2151
President & CEO
Mountain Province Diamonds
Tel +1 (416) 361-3562
Garry Bailey, President
NWT Métis Nation
Tel +1 (867)621-2767
About The De Beers Group of Companies
De Beers is a member of the Anglo American plc group. Established in 1888, De Beers is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people (directly and as contractors) across the diamond pipeline, and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the Company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers visit www.debeersgroup.com.
About Mountain Province Diamonds
Mountain Province Diamonds discovered the first kimberlite at Kennady Lake in 1995 and in 1997 entered into a joint venture with Monopros, a subsidiary of De Beers. Mountain Province is a 49% participant with De Beers Canada in the Gahcho Kué JV located in Canada’s Northwest Territories. Gahcho Kué is the world’s largest and richest new diamond mine development. A March 2014 feasibility study filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué Project has an IRR of 32.6%. Further information is available at www.mountainprovince.com.
This news release may contain forward-looking statements, within the meaning of the "safe-harbour" provision of the Private Securities Litigation Reform Act of 1995, regarding Mountain Province's business. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside the control of the Company.