QUEBEC – The impact and benefits agreement (IBA) covering the Nunavik nickel project in the northern part of the province has been signed between the project owner, Montreal’s CANADIAN ROYALTIES, and the Landholding Corporation of Kangiqsujuaq, the Qarqalik Landholding Corporation of Salluit, the Northern Village of Puvirnituq (including the communities of Kangiqsujuaq, Puvirnituq, and Salluit), and Makivik Corporation (“Makivik”), the non-profit legal representative of the Inuit in respect of the project. Makivik, whose board of directors includes representatives from the 15 communities of Nunavik, unanimously approved entering into the IBA.
The IBA will be in effect for the life of the Nunavik project. It constitutes a formal commitment by Canadian Royalties to ensure the fair distribution of the economic benefits arising from the project. Furthermore, in addition to providing for Inuit participation by local hiring, training programs and contracting preference, this IBA includes guaranteed payments and revenue sharing allocations to Makivik and the communities over the expected life of the mine at the project.
It is anticipated that this IBA will deliver economic and social benefits to the Inuit of Nunavik through Makivik, aid in the mitigation of the project’s impacts, and provide an efficient and ongoing relationship between the parties during both the development and operation phases of the project.
If our readers have questions, Canadian Royalties VP of business development and investor relations may be contacted at 514-879-1688 or 877-879-1688. Email should be sent to email@example.com.