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Gold/Mining/Energy : The Graphite Blog -- Ignore unavailable to you. Want to Upgrade?

To: vitalremains who wrote (1410)	7/26/2014 9:02:48 PM
From: vitalremains	Read Replies (1) \| Respond to of 1882

Mason to co-operate with Pessamit natives for Lac Gueret 2014-07-23 11:58 ET - News Release Mr. Benoit Gascon reports DEVELOPMENT AND COOPERATION: MASON GRAPHITE AND PESSAMIT FIRST NATION SIGN COOPERATION AGREEMENT FOR LAC GUERET GRAPHITE PROJECT Mason Graphite Inc. and Conseil des Innus de Pessamit have signed a co-operation agreement for the preconstruction phase of Mason Graphite's 100-per-cent-owned graphite project located near Lac Gueret, about 300 kilometres north of Baie-Comeau, part of the Nitassinan (traditional lands) of the Pessamit First Nation. Mason Graphite intends to build an open-pit graphite mine, which is expected to produce 50,000 tons of concentrate per year. The mine is also expected to include infrastructure for a concentrator, as well as maintenance, office and personnel buildings. Once in production, the operation is expected to create approximately 80 direct jobs for both aboriginal and non-aboriginal inhabitants of the area. Construction could potentially begin as early as 2015. A generational project Representatives of Mason Graphite and the Pessamit Innu describe the Lac Gueret mine as "a generational project," since the resource is amply sufficient to achieve production at full capacity for an initial 22-year period, which represents less than 10 per cent of the total mineral resource. "The Lac Gueret project will be a world-class operation," said Mason Graphite chief executive officer, Benoit Gascon. "Not only is this very high-quality, crystalline, large-flake graphite, a highly sought-after product on international markets, but the average grade of the ore, as set out in the company's preliminary economic assessment, is approximately 27.4 per cent graphitic carbon, and its purity is at the top of the grading scale. We expect prices to average an estimated $1,525 per ton, resulting in potential sales of $76.2-million per year. That's what I call a promising future!" Fairness between two nations Rene Simon, Chief of the Pessamit Innu, expressed his satisfaction regarding the co-operation agreement signed with Mason Graphite, which not only clears the way for an impact and benefits agreement (IBA), but provides for a fair distribution of construction, maintenance, and operating jobs and contracts, according to the available resources of the communities. "It's understood of course that our side has some catching up to do in terms of economic development," said Mr. Simon. "Pessamit doesn't have the businesses and qualified workers that other parts of the Cote-Nord region do. That's why the co-operation agreement includes incentives and training programs delivered through existing organizations, as well as on-site apprenticeships once the project is under way. Our agreement with Mason Graphite is based on the principle of equity between two nations, which is why we, the Innu of Pessamit, are actively supporting it." The starting point for regional dialogue on the project The agreement is an important first step in establishing the kinds of relationships Mason Graphite seeks to have with the Pessamit community and all the people of Manicouagan. Mason Graphite plans to hold information and consultation activities in the coming months to establish and build lasting ties with the regional community. A strategic mineral Both Mason Graphite and the Pessamit First Nation agree on the benefits of the mining project for the entire region; not only for the health of the economy and employment opportunities, but also for environmental protection. The process of producing graphite by physical separation requires no chemicals, and the mine is expected to be considerably less invasive and will have a much smaller footprint than typical mining operations. Graphite is non-toxic and is not considered a pollutant, therefore the environmental effects of extracting and handling this material are minimal. Natural graphite has numerous applications in industrial refractories, notably in steel mills. It is also used in braking systems and in various types of batteries, including lithium-ion batteries, for which demand is growing by approximately 20 per cent per year according to automotive industry estimates. This makes it truly a strategic mineral. Qualified person Jean L'Heureux, Eng, Mason Graphite's executive vice-president of process development, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release. We seek Safe Harbor.