Voisey`s Bay Impact Benefit Agreement

Impact and Charitable Agreements (IBAs) are typical when a major project is proposed for traditional rural development. IBAs are formal and written agreements that help address the anticipated effects of industrial development on traditional lands and ensure economic benefits for neighbouring indigenous communities affected by this development. IBAs are formal and written agreements between businesses and First Nations that help address the anticipated effects of industrial development and ensure economic benefits for neighbouring communities affected by this development. Vale has successfully negotiated ibA with nunatsiavut Government and Innu Nation, which leads to a mutually beneficial relationship, in which benefits to Innu and Labrador Inuit are maximized and negative outcomes minimized. While the details of the agreements are confidential, they provide specific business, employment and training opportunities for members of the Innu Nation and Nunatsiavut Government under the mining and concentrator component of development. Impact and Charitable Agreements (IBAs) are typical when a major project is proposed for the development of a First Nation`s “traditional lands.” Traditional lands are the ancestral countries of the First Nation over 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 it is traditional countries that will be affected, it is right that neighbouring First Nations have the opportunity to recognize the benefits of such developments. Thus, the negotiation of IBAs has become a common step for Canadian mining companies that want to open mines on traditional lands. IBAs differ considerably in their scale and complexity, depending on the scale and nature of the project and the issues identified by the negotiating parties. However, most agreements contain themes such as: The Voisey`s Bay deposit is located on the traditional lands of two Aboriginal groups – the Innu and Labrador Inuit, represented respectively by the Innu Nation and the Nunatsiavut Government. “Traditional lands” are the ancestral countries over which aborigines have legal rights.

The Voisey`s Bay deposit is located in areas subject to Innu and Inuit land claims….