Business
LIM signs Agreement with Uashaunnuat Innu
LIM signs Agreement with Uashaunnuat Innu.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \n20 December 2010\n\nLIM signs Agreement with Uashaunnuat Innu\n\nAnglesey's 41% owned associate Labrador Iron Mines Holdings Limited (TSX: LIM)\nis pleased to announce that it has entered into an Agreement in Principle with\nthe INNU of UASHAT and MANI-UTENAM ( the Uashaunnuat ) with regard to LIM's\ndirect shipping iron ore mining Projects in the Province of Newfoundland and\nLabrador and in the Province of Quebec, near the town of Schefferville.\n\nThe Agreement in Principle, which has been approved by the INNU TAKUAIKAN\nUASHAT MAK MANI-UTENAM Band Council (\"ITUM\"), stipulates the principal terms to\nbe included in a Final Agreement regarding the impacts and benefits of LIM's\nProjects and ensures that the Uashaunnuat will receive fair and equitable\nsocio-economic and financial benefits from the Projects.\n\nUnder the Agreement in Principle, the Uashuannuat have agreed to give their\nconsent to the continuation of the Projects and have agreed to discontinue the\nlegal proceedings issued against the Government of Newfoundland and Labrador\nchallenging the permits issued to LIM.\n\nLIM has agreed to take measures to mitigate the impact of the Projects on the\nUashaunnuat, the Uashaunnuat families, and their traditional activities, and\nhas agreed to take certain social and environmental protection measures\nrelating to the Projects.\n\nLIM has also agreed to make annual contributions to an Aboriginal Traditional\nActivities Fund to be created for the benefit of the traditional activities of\nthe Uashaunnuat and other Innu, including the Uashaunnuat families and\nparticularly the families most directly affected by the Projects. The Fund may\nalso be used for the benefit of the traditional activities of members of other\nFirst Nations in the vicinity of Schefferville.\n\nIt is intended that the Fund shall be used for the purposes of traditional,\ncultural and subsistence activities and the protection and preservation of\naboriginal values and shall contribute to the aim of protecting the rights and\ninterests of the Uashaunnuat, their lifestyle, their relationship with the land\nand their traditional activities.\n\nLIM and ITUM have agreed to negotiate diligently and in good faith with a view\nto reaching a Final Agreement on or before March 1, 2011, for ratification by\nthe Uashaunnuat on or before March 31, 2011. The Fi...