De Beers, Mountain Province Sign IBA with Deninu Kué First Nation

De Beers Canada Inc. and Mountain Province Diamonds Inc. (NYSEMKT:MDM) announced that they have entered into an impact benefit agreement (IBA) with the Deninu Kué First Nation. It is regarding the Northwest Territories-based Gahcho Kue diamond mine, which is a joint venture between the two companies.

As quoted in the press release:

The IBA puts in place a framework for De Beers and the Deninu Kué First Nation to work together over the life of the mine to develop economic, environmental and cultural programs with Deninu Kué First Nation members.

Glen Koropchuk, COO for De Beers in Canada, commented:

De Beers is committed to sustainable development and through this Agreement the Deninu Kué First Nation members can access new employment, training and business opportunities while ensuring strong environmental and cultural programs. We want to thank the negotiating teams on both sides for their hard work in concluding the IBA.

Click here to read the full De Beers Canada Inc. and Mountain Province Diamonds Inc. (NYSEMKT:MDM) press release.