De Beers Canada Inc. and Mountain Province Diamonds Inc. (NYSEMKT:MDM) announced yesterday that De Beers has entered into an impact benefit agreement with the Yellowknives Dene First Nation regarding the Gahcho Kue project.
Gahcho Kue is a joint venture between De Beers and Mountain Province; De Beers is the project’s operator.
As quoted in the press release:
The agreement puts in place a framework for De Beers and the Yellowknives Dene First Nation to work together over the life of the mine and it enables participation by the Yellowknives Dene First Nation in the opportunities that the mine provides.
Glen Koropchuk, COO of De Beers, commented:
We already have an established relationship with the Yellowknives Dene First Nation for our Snap Lake Mine. This Impact Benefit Agreement builds on that existing relationship and it confirms our commitment to work together for the benefit of Yellowknives Dene First Nation members as we advance the Gahcho Kué mine. I would like to congratulate both negotiating teams on work well done.