Business
Trading Statement - Labrador Iron negotiations ...
Trading Statement - Labrador Iron negotiations ....
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n Anglesey Mining plc LSE:AYM 9 June 2010\n\nLabrador Iron - negotiations with Quebec Innu\n\nAnglesey Mining plc announces that its 41% owned associate company Labrador Iron\nMines Holdings Limited (TSX: LIM) has recently been in negotiations towards an\nImpact Benefit Agreement with the Innu Community of Matimekush-Lac John\n(Schefferville), one of four First Nations who claim Aboriginal rights in the\ngeneral Schefferville area.\n\nIn March 2008 LIM entered into a Memorandum of Understanding with the Innu\nCommunity Matimekush-Lac John, wherein the parties agreed to negotiate an Impact\nBenefit Agreement and LIM agreed to use its best efforts to employ or contract\nwith individuals and businesses of Matimekush. LIM has been in discussions and\nconsultations with the Chief, Council and Elders of Matimekush continuously\nthereafter and up to date.\n\nOver the past four years LIM has worked well with the Quebec Innu and has\nemployed many Innu members in its exploration and environmental activities, as\nwell as contracting with Matimekush and Uashat businesses.\n\nIn April 2010, following the provision of Federal Government negotiation funding\nto Matimekush, detailed negotiations took place between LIM and the nominated\nNegotiator/Legal Advisors for Matimekush. In May 2010 LIM offered a\ncomprehensive package of jobs, contracts, social benefits, infrastructure grants\nand revenue sharing, which addressed all of the demands made by Matimekush.\nThis offer has not been accepted and the Chief has declined to discuss the\nproposals or negotiate further. The Innu Matimekush are currently in an\nelection period, with the elections for Chief and Band Council to be held July\n7, 2010.\n\nLIM understands that, as part of a campaign being conducted by the \"Innu\nStrategic Alliance\" (comprised of five Innu communities living in northeastern\nQuebec) to have their ancestral rights in the territory called Nitassinan,\n(which includes parts of northeastern Quebec and western Labrador) recognized by\nGovernment, the Quebec Innu have announced their intention to set up a barricade\non Friday, June 11, which may block access to mining properties in the\nSchefferville area.\n\nLIM respects the legitimate aspirations of all First Nations but believes that\nnegotiations on impact benefit agreements for mining projects should not be side\ntrack...