KWG Resources Inc. (CSE:KWG)(CSE:KWG.CN)(CNSX:KWG)(CSE:KWG.A)(CSE:KWG.A.CN)(CNSX:KWG.A)(FRANKFURT:KW6) (“KWG”) and Marten Falls First Nation (“MFFN”) have agreed to negotiate the terms of a partnership agreement for mining undertakings in the traditional territories of MFFN, particularly chromite resources in the Ring of Fire. The partnership has been conceived of as an equal sharing of profits that may be derived from mining activities after provision for fully-absorbed manufacturing costs, including comminution, concentration and transportation, plus reclamation, and the amortization of project-finance borrowings.
As quoted in the press release:
“We are quite encouraged from our recent visit to China (see KWG PR June 1) to want to see this development move forward,” said MFFN Chief Bruce Achneepineskum. “KWG’s partnership proposal is within the spirit of equal sharing of the fruits of our lands as our ancestors had agreed to under Treaty 9. We will now try to fix the commercial terms of this massive undertaking. In our own case we consider that we are negotiating these terms as part of a process of reaching free, prior and informed consent. We also look forward to and welcome the involvement of other regional First Nations whose traditional territory might become a part of the planning process.”