De Beers Canada Signs Deal Over Ontario Mine

De Beers Canada has moved closer to developing Ontario's first diamond mine on the James Bay coast after signing a deal with the Attawapiskat First Nation aborigines.

The Impact Benefit Agreement promises jobs, training and cash to the First Nation aborigines. They will receive annual payments from De Beers although neither side is saying how much will be paid.

During construction, the mine is expected to employ about 600 people, and De Beers is assuring the employment of around 30 Attawapiskat aborigines. It has also agreed to invest in training programs and give priority to Attawapiskat businesses over contracts.

De Beers still needs to secure regulatory approvals, however, before it can begin building the mine. The federal government is carrying out an environmental review of the project and a decision is expected later this summer.