Business
Trading Statement - Agreement with Naskapi Nation
Trading Statement - Agreement with Naskapi Nation.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \n10 September 2010 Anglesey Mining plc LSE:AYM\n\nLIM signs Impact Benefits Agreement with Naskapi Nation\n\nAnglesey Mining plc's 41% owned associate Labrador Iron Mines (TSX:LIM) has\nreported that it and the Naskapi Nation of Kawawachikamach (near Schefferville)\nQuebec have entered into an Impact Benefits Agreement (\"IBA\") with respect to\nthe development and operation of LIM's Schefferville Iron Ore Project in\nWestern Labrador.\n\nUnder the IBA Agreement, Labrador Iron Mines has committed to the development\nof the Project in an environmentally and socially responsible manner, and to\naddress and mitigate any environmental, cultural, economic and spiritual\nconcerns of the Naskapi Nation. LIM has undertaken to make best efforts to\nemploy Naskapi members in the Project workforce and to engage Naskapi\naboriginal businesses for Project contracts. LIM will also provide some support\nfor education, training and social programs and provide opportunities for the\nNaskapi to participate in the economic development of the Project.\n\nFor its part, the Naskapi Nation has agreed to respect the rights, licenses and\npermits that have been granted to LIM, to provide LIM with continuing access to\nits properties and not to engage in any action that is obstructive to the\nProject. The Naskapi have also agreed to make reasonable efforts to enter into\nco-operation agreements and/or working relationships with other First Nations\nwith whom LIM may enter into other IBA agreements.\n\n\"We are extremely pleased that LIM has today signed an IBA with the Naskapi\nwhich formalizes a mutually beneficial relationship based on respect and\ntrust,\" said John Kearney Chairman and Chief Executive. By entering into the\nIBA, the Naskapi have confirmed and demonstrated their support for the Project.\n\n\"We are also continuing our IBA negotiations with the Quebec Innu communities\nand we look forward to establishing co-operative and mutually beneficial\nrelationships with all our First Nation partners to ensure the long term\nsuccess of the Project for the mutual benefit of all stakeholders\" added Mr.\nKearney.\n\nThe Naskapi IBA, which will be in effect throughout the Project's mine life,\nrepresents the culmination of a long period of cooperation since the initial\nMOU was signed between the parties in April 2008. Since that time, LIM has b...