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Wednesday, 26th March 2008 (1580 views)

A new deal between a Canadian gold miner and a First Nation has been hailed as the next step in the development of a cooperative relationship between the bodies.

Northgate Minerals Corporation signed a memorandum of understanding in Matachewan First Nation this week concerning the advancement of the Young Davidson, reports the Timmins Press.

Including signatories from the First Nation, Wabun Tribal Council and Northgate Minerals, the document sets an agenda for the formation of an impact benefit agreement taking in employment, training, finance and business opportunities.

Chris Rockingham, vice-president of business development and exploration for Northgate, said: "Northgate's corporate goal is to find, develop and operate mines in an environmentally responsible and socially sustainable fashion, while providing economic benefits to the surrounding community and an appropriate rate of return to Northgate's shareholders."

Shawn Batise, Wabun Tribal Council's executive director, said that the agreement was a sign that First Nations are making the most of the new opportunities available to them.

With interests in Canada and Australia, Northgate Minerals Corporation is forecasting unhedged gold production of 400,000 ounces in 2008.

 

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