LIA to vote on Voisey’s IIBA

On June 24, members of the Labrador Inuit Association will vote on whether to ratify on an Inuit Impact and Benefits Agreement with the mining giant Inco Ltd.

Ratification would help pave the way for development of the rich Voisey’s Bay nickel, cobalt and zinc deposit.

The deal includes a $123-million compensation package for Labrador Inuit over the projected 30-year lifetime of the mine.

It also includes a commitment to fill between 25 per cent and 40 per cent of the jobs during the construction and development phase with Inuit workers, giving preference to residents of Nain, Labrador.

The federal government is expected to kick in $50 million to train Inuit and Innu to work at the mine.

About 400 jobs will be created at the mine and mill at Voisey’s Bay.

Work is expected to begin in July with the construction of roads and a temporary port and camp.

Inco bought the Voisey’s Bay deposit in 1994, but the mining giant was only able to strike a deal with the Newfoundland-Labrador government this week.

The two parties now have a deal that would give Inco the right to operate Voisey’s Bay on the condition that it agrees to build a facility to process the ore in Newfoundland.

Until this plant is finished, Inco will send ore to its smelters in Ontario and Manitoba.