MOLYBDENUM: Avanti, Nisga’a reach benefits deal for Kitsault project

BRITISH COLUMBIA – Vancouver-based Avanti Mining and the Nisga'a Nation have concluded a benefits agreement that covers the proposed Kitsault molybdenum mine 140 km northeast of Prince Rupert. The project is located within the Nass Area, where the Nisga'a have treaty rights.

The new agreement addresses several outstanding concerns the Nisga'a have, such as environmental protection, economic benefits, and a net smelter royalty up to 2% for the Nisga'a. The deal also resolves all outstanding litigation between the signatories.

"We are pleased to have finally reached an agreement with Avanti that will enable the project to proceed while ensuring that our treaty rights are respected, and our Nation's environment is protected," said Mitchell Stevens, president of the Nisga'a Nation. "We wish to congratulate Avanti's new executive team who approached us with a sincere interest in addressing our concerns with the project, which we were then able to work through without delay."

The Kitsault mine is a former moly producer (1968-72 and 1980-82). Avanti plans to spend up t o $1 billion to reopen the mine and mill facilities, with construction to begin later this year.

Additional information is available at AvantiMining.com.