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| For immediate release |
August 22, 2006 |
MEDIA RELEASE
DE BEERS CANADA AND NORTH SLAVE METIS ALLIANCE SIGN
IMPACT BENEFIT AGREEMENT FOR SNAP LAKE
Yellowknife – August 22, 2006 - The North Slave Metis Alliance and De Beers Canada Inc. are pleased to announce that they have signed an Impact Benefit Agreement for the Snap Lake Project in the Northwest Territories.
This agreement formalizes the NSMA’s participation in the Snap Lake Mine through the establishment of business contracts, training and employment opportunities, scholarships and financial benefits.
“Our vision is to ensure our businesses are creating opportunities for our People,” said Bill Enge, President of the North Slave Metis Alliance. “In negotiating this agreement, our focus was on supporting the development and growth of business opportunities, with a view to investing a significant portion of the profits earned by our businesses into scholarships, training and educational opportunities for our members.”
“Concluding this Impact Benefit Agreement clearly establishes how the North Slave Metis Alliance will participate in and enjoy the success of the Snap Lake diamond mine,” said Mr. Chantal Lavoie, Vice President–NWT Projects. “Our Agreement enables the North Slave Metis Alliance to move forward with their new shotcrete business, and we look forward to being their first major customer.”
Speaking to members of the Board of Directors of the North Slave Metis Alliance, De Beers President and CEO Jim Gowans said, “Our business relationship will bring benefits to both organizations and will support the long term aspirations of the North Slave Metis Alliance. That is something both negotiation teams can be proud of today.”
This is the third Impact Benefit Agreement concluded by De Beers for the Snap Lake Project. The first one was completed with the Yellowknives Dene First Nation in November 2005 and the other with the Tlicho Government in March 2006.
The Snap Lake mine will employ 500 people during full production and will produce 1.5 million carats per year. It will be the first completely underground diamond mine in Canada and De Beers’ first mine outside of Africa. The project is under construction and scheduled to begin production in October 2007.
For more information, contact:
- Ends -
| For further information contact: |
Bill Enge
President
North Slave Metis Alliance
867-873-6762
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Cathie Bolstad
Mgr. Public & Corporate Affairs
De Beers Canada Inc.
867-444-9872 |
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