Gahcho Kue JV and Yellowknives Dene First Nation Sign Impact Benefit Agreement

(IDEX Online News) – De Beers Canada Inc. and Mountain Province Diamonds have announced that De Beers, as operator of the Gahcho Kué Project, has entered into an Impact Benefit Agreement (IBA) with the Yellowknives Dene First Nation for the proposed Gahcho Kué Mine.

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 to enable participation of the Yellowknives Dene First Nation in the mine.

“We already have an established relationship with the Yellowknives Dene First Nation for our Snap Lake Mine,” said Glen Koropchuk, COO for De Beers. “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.”

"The Gahcho Kué Project is located within Chief Drygeese Territory. Our members have lived on the land throughout our traditional territory, hunting, fishing and trapping, since time immemorial,” said Chief Edward Sangris. “This agreement provides certainty that training, employment and business opportunities are made available to Yellowknives Dene members and it includes financial provisions necessary for ensuring fair participation in opportunities the project will provide.”

Gahcho Kué will employ close to 700 people during the two years of construction and close to 400 people during its operational phase. The life of mine is approximately 11 years in duration and it is expected to produce about will mine 31 million tons of ore containing an estimated 49 million carats.

Gahcho Kué is a joint venture between De Beers (51%) and Mountain Province Diamonds (49%) and is located 280 kilometers northeast of Yellowknife, Northwest Territories.