Agnico Eagle Mines inked deal with Kivalliq Inuit Association
The CBC is reporting that the Kivalliq Inuit Association (KIA) and the owner of a proposed gold mine near Rankin Inlet have signed an agreement calling for jobs and other benefits for Inuit beneficiaries.
The KIA inked the Inuit impact and benefit agreement with Agnico Eagle Mines Ltd.recently in Rankin Inlet, which is located 24 kilometres from the project.
The CBC report stated, "The agreement comes after more than three years of negotiations. Details are being kept under tight wraps, as is standard with such agreements, but in general they call for jobs, training, contract opportunities for local businesses and payments.
An initial payment of $1.5 million will be made to the KIA now that the agreement has been signed.
David Ningeongan, the president of the Kivalliq Inuit Association says, "It's hoped that up to 50 per cent of the jobs at Meliadine will eventually be filled by Inuit beneficiaries. About 30 per cent of people currently working at the Meliadine site are Inuit," he says. "The Nunavut Impact Review Board granted Agnico Eagle the project certificate for Meliadine earlier this year, though the certificate came with 127 conditions. A decision to build the mine has not been announced."
Agnico Eagle currently operates the Meadowbank gold mine near Baker Lake.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957. Its eight mines are located in Canada, Finland and Mexico, with exploration and development activities in each of these regions as well as in the United States. The Company and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983.