For immediate release
October 27, 2005
MEDIA RELEASE
DE BEERS VICTOR PROJECT RECEIVES FINAL ENVIRONMENTAL APPROVAL
Timmins - October 27, 2005 — De Beers Canada Inc. is pleased to announce that they have received final environmental approval for the development of the Victor Project in Northern Ontario. The last of the three provincial Environmental Assessments (EA) was approved October 24th by the Provincial Minister of the Environment Laurel Broten. In addition, the Ontario Minister of the Environment turned down a request to have the entire Victor mine project go through a provincial EA. The three provincial environmental assessments were coordinated with a federal comprehensive study under the Canadian Environmental Assessment Act.
"The First Nations communities in the area have been very involved in the EA process and their traditional knowledge has been incorporated in the project design and future monitoring plans. There has been an extensive collective effort over the last three years to ensure that the Victor mine will minimize impacts and maximize benefits for the people of Northern Ontario. Having successfully completed a number of major steps, we will now proceed with final permit applications to build the mine," said Jeremy Wyeth, Vice President of the Victor Project.
Early this summer, Attawapiskat First Nation ratified the Impact Benefit Agreement with De Beers, showing their support for the development of the $982 million mine scheduled to begin production at the end of 2008.
The Victor Project, will be the first diamond mine in Ontario and will take three years to construct. Victor will produce approximately 6 million carats during the life of the mine and will employ about 600 people during construction and 375 during production. It is anticipated that the project will have a $6.7 billion effect on the GDP of the province during its life. The Victor kimberlite is one of 18 pipes discovered on the property, 16 of which are diamondiferous. De Beers will continue with the evaluation of other priority kimberlites on the property which may extend the life of the mine.
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| For further information contact: |
Trish Buttineau
Communications Coordinator
De Beers Victor Project
Business Office: 705-268-0988 ext. 231
Email: trish.buttineau@ca.debeersgroup.com |
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