Voisey`s Bay Impact Benefit Agreement

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ACCORDS are formal and written agreements between businesses and First Nations that help to address the predicted effects of industrial development and to ensure economic benefits to neighbouring communities affected by this development. IAAs vary widely in scope and complexity, depending on the scope and nature of the project and the issues identified by the parties involved in the negotiations. However, most agreements deal with topics such as: Impact and Charitable Agreements (IBA) are typical when a major project is proposed for development on the “traditional countries” of a first nation. Traditional countries are the ancestral countries of the first nation on which they have Aboriginal rights. Mining projects, for example, have the potential to have a social, cultural and environmental impact on traditional lands and local communities. Given that traditional lands will be affected, it is right that neighbouring First Nations have the opportunity to recognize the benefits. As a result, IBAs negotiation has become a common step for Canadian mining companies to open mines on traditional lands. Impact and charitable agreements (IBA) are typical when a major project is proposed for development on traditional surfaces. ACCORDS are formal and written agreements that help to address the predicted effects of industrial development on traditional lands and to ensure economic benefits to neighbouring Aboriginal communities affected by this development.

Vale successfully negotiated the IBAs with the Nunatsiavut Government and Innu Nation, leading to a mutually beneficial relationship that maximizes benefits for Labrador Innu and Inuit and minimizes negative outcomes. Although the details of the agreements are confidential, they provide specific business, employment and training opportunities for members of the Innu Nation government and Nunatsiavut, which are related to the mining and development hub component. The Voisey`s Bay deposit is located in areas subject to Innu and Inuit land rights. The rights to these traditional countries belong to two Aboriginal groups – the Innu and Labrador Inuit, represented respectively by Innu Nation and the Nunatsiavut government. . The Voisey Bay deposit is located on the traditional land of two Aboriginal groups – the Labrador Innu and Inuit, represented by Innu Nation and the Nunatsiavut government. “Traditional countries” are the ancestral countries on which the aborigines have the right.