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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (230)	10/23/2002 8:32:55 AM
From: Just G	Read Replies (1) \| Respond to of 16206

De Beers Gets Lucky Timmins Daily Press -------------------------------------------------------------------------------- It's a deal! Attawapiskat and De Beers have finally reached an agreement to move forward with the possible development of a diamond mine. After weeks of talks, the two sides announced Tuesday an agreement has been reached to proceed with the winter program for the Victor diamond project, 90 km west of the First Nation community on the James Bay coast. Thomas Tookate, band councillor and general manager for Attawapiskat Development Corporation, said the community is happy the winter program will proceed. "It's a win-win solution for both partners," he said. "It means it will employ people before winter." While Tookate believes Attawapiskat has a fair deal with the diamond giant, the long-term success of the partnership will also depend upon the First Nation Treaty with the government. "We're happy with this agreement but we feel we are only half way there," he said. "We still have to deal with the government and the only way this partnership will last is if the government is willing to come to the table and recognize our rights and provide proper consultation with the community. The government has to provide financial resources so that we can have proper negotiations for the future of the project." That aside, De Beers has agreed to build a permanent education and training facility in Attawapiskat. The facility would be owned by the Attawapiskat First Nations, once developed, regardless of whether or not a mine is constructed at Victor. "It is De Beers desire to direct funding to education and training as this is both fundamental to the company's sustainable development objectives, and in line with the company's corporate social investment policies," said Richard Molyneux, president and CEO of De Beers Canada. Meanwhile both parties have agreed to address environmental issues and will begin negotiations on an Impact Benefit Agreement (IBA) starting Jan. 15, said Tookate. A decision to construct a mine will be made only after successful negotiation of an IBA, a feasibility study, issuance of necessary permits, and provision of funding by the De Beers Board. Linda Dorrington, De Beers communications manager, said the company is delighted with the agreement. "We have put a lot of work into this project over the years and we are very pleased to see it going ahead," she said. "We are particularly pleased that all of those people who were hoping for employment during the winter program will have employment this winter."