De Beers and Mountain Province Enter IBA with NWT Metis Nation

De Beers Canada Inc. and Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) have entered into an impact benefit agreement (IBA) with the NWT Métis Nation (NWTMN) for the proposed Gahcho Kué diamond mine. The diamond mine is a joint venture between De Beers (51 percent) and Mountain Province (49 percent); De Beers is the operator of Gahcho Kué.

As quoted in the press release:

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

Glen Koropchuk, chief operating officer for De Beers in Canada, stated:

De Beers is committed to sustainable development and through this Agreement the NWT Métis 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 for De Beers Canada Inc. press release.