Following a long series of negotiations, Tahera Corp. (TAH-T) and the Kitikmeot Inuit Association have reached an agreement-in-principle on local benefits from Tahera’s Jericho diamond project in Nunavut.
The impact-benefits agreement is the first for a diamond project in Nunavut; previous diamond projects that have gone into production have been in the Northwest Territories. It provides for preferential opportunities for local Inuit in employment, training and contracting, and provides compensation for land use and water rights.
Tahera is hoping to have all permitting and financing in place for the project by the end of the year. A final hearing on the project’s environmental-impact statement has been scheduled for January.
A feasibility study at mid-year concluded production from Jericho at a rate of 3.1 million carats over a minimum eight-year mine life was economic. The study used a reserve figure of 2.6 million tonnes grading 1.2 carats per tonne, with a value of US$81 per carat. The project would have a capital cost around $65 million.
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