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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (784)	10/31/1997 5:03:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 11676

To All Article from todays Financial Post that may be of interest. Friday, October 31, 1997 Deal with Inuit close on Voisey's Bay claim By ALAN TOULIN Ottawa Bureau Chief The Financial Post ÿA major piece of the Voisey's Bay puzzle fell into place yesterday as negotiators for Ottawa, Newfoundland and the Labrador Inuit Association announced they have reached a framework agreement for a comprehensive land claim settlement. ÿ"This is a major step forward," said Newfoundland Premier Brian Tobin. "The agreement has the essential elements necessary to complete an agreement in principle on a land claim settlement with the LIA." ÿThe three parties to the deal, whose negotiators met in bargaining sessions in Ottawa over the past two weeks, did not release any specific details of the package. In addition to land claims, however, the package also includes a financial package for the Inuit and commitments to further discussions between Ottawa and Newfoundland on revenue-sharing from the multi-billion Voisey's Bay nickel project owned by Inco Ltd. ÿTobin said the details of the framework settlement will be made public next Wednesday. A final draft agreement could be ready for signing before Christmas. ÿHowever, the breakthrough on the land claims issue has injected new momentum in the Voisey's Bay project. Inco had earlier said it was delaying development of the project for a year. ÿMichael Sopko, Inco's chairman, will begin discussions again on Tuesday with Tobin. The premier said the talks will focus on resolving outstanding issues between the company and the Newfoundland government. In addition to developing Voisey's Bay in Labrador, Inco wants to build a smelting operation in Argentia, site of a former American military base. ÿInco has already agreed to begin fast-track negotiations with the Inuit to reach an impact-benefit agreement, Tobin said. ÿChesley Andersen, the LIA's mineral resource adviser and one of the lead negotiators, said the LIA board will meet Monday to approve the agreement. ÿ"This comes as a major breakthrough," Andersen said. "If it is accepted, then I think things should move fairly quickly from here on in." ÿThe Labrador Inuit have been attempting to negotiate a land claims settlement with Newfoundland for 20 years, but the prospect of the Voisey's Bay development gave added importance to a deal. Once accepted by the LIA, a final binding agreement will have to be approved by the whole membership of the LIA, Andersen said. ÿ"The door has been opened, one major part of the puzzle is in place and it makes it easier to get the impact and benefit agreement [from Inco]," Andersen said. ÿTobin said he believes the potential deal with the LIA will help in bringing about a final land claim settlement with the other major aboriginal group, the Innu nation. Have a good one. Regards