Rockland (RL-TSXV) neighbor, Labrador Iron Mines Holdings Ltd. has signed a landmark impact benefits agreement with the Nation Innu Matimekush-Lac John (MLJ) of Schefferville, Que., with regard to LIM's Schefferville area direct shipping iron ore mining projects in the province of Newfoundland and Labrador, and in the province of Quebec.
The historic life-of-mine agreement, which was approved by resolution of the band council of Matimekush-Lac John, signed by the chief and band council, and endorsed by community referendum, recognizes that LIM and MLJ wish to work together to establish a long-term, co-operative, respectful and mutually beneficial positive relationship, based on confidence, trust and certainty.
Under the IBA, LIM has agreed to the equitable participation of the Innu Matimekush-Lac John in its Schefferville area projects through employment, training, contract opportunities and financial benefits, including some community infrastructure projects, and has agreed to take certain social and environmental protection measures to mitigate the impact of the projects on MLJ families and traditional activities.
MLJ, by entering into this agreement, has given its consent to the company's iron ore projects proceeding in accordance with the agreement, and has agreed to provide LIM continuing and unobstructed access to, and quiet enjoyment of the iron ore projects and its properties.
The complete news release can be found here.
Team Picture
Drilling Camp Rockland's Retty Lake Cu-Ni-PGM Property, Labrador Trough, Quebec June 2011
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