Victor impact agreement signed (November 09, 2005)

The band council at the Attawapiskat First Nation in northern Ontario has voted unanimously to approve an impact benefit agreement with De Beers for the Victor diamond mine, removing the last obstacle to a production decision on the project.

The agreement had previously been ratified in a band referendum.

The project, which has an estimated capital cost around $1 billion, has also received its final approval from the Ontario government under the Environmental Assessment Act. Along with approvals by the national government this will allow De Beers to begin construction this winter.

Construction should take three years, so that production would begin late in 2008. The Victor kimberlite pipes have a reserve of 28.7 million tonnes grading 0.22 carats per tonne and the mine would produce at a rate of 7,000 tonnes per day.

Over a 12-year mine life Victor would produce 6 million carats of diamonds for De Beers, which is a subsidiary of Anglo American (AAUK-Q).

Print

Be the first to comment on "Victor impact agreement signed (November 09, 2005)"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close