Diamond mining and trading company De Beers Canada, on behalf of its joint venture partner Mountain Province Diamonds, has entered into an Impact Benefit Agreement (IBA) with the North Slave Métis Alliance for Gahcho Kué Mine, located in the Northwest Territories.

The latest deal will facilitate the establishment of a framework for De Beers and the North Slave Métis Alliance to optimize the participation of the latter in the Gahcho Kué Mine through employment, business opportunities, training and development, and financial benefits.

De Beers Canada chief officer Glen Koropchuk said this is the first IBA to be concluded for the proposed Gahcho Kué Mine.

"It incorporates the shared learning we have from our experience working together over the years at the Snap Lake Mine, which is also operated by De Beers. The negotiation of further impact benefit agreements is continuing," Koropchuk added.

The Gahcho Kué diamond mine will have a mine life of approximately eleven years, will employ nearly 700 people during construction and about 400 people during operations.

It will produce on average 4.5 million carats per annum over its mine life.