Conclusion of this Agreement represents an important milestone in the advancement of this major project towards development and ultimately production.
The Agreement has been extended to coincide with the projected Donlin Gold mine life with provisions for a further extension, should production continue beyond that.
The Agreement also coincides with the length of the Calista Corporation’s Exploration and Mining Lease.
The Agreement:
Provides direct compensation to TKC through payments for project milestones, annual surface use and mine operation.
Includes a coordinated and consultative approach between Donlin Gold and TKC regarding annual project planning, reclamation as well as preparation of a subsistence harvest plan for affected surface lands
Gives preference to TKC for contracts, hiring and training TKC shareholders, as well as funding scholarships and working with federal, state and local entities to help create and fund a training facility in the region
Commits to an exclusive contract with TKC for the construction and operations of an upriver port site
"Our families have lived off this land for generations and we want to make sure it is developed both responsibly and in a way that benefits the shareholders of The Kuskokwim Corporation," said Maver Carey, President and CEO of TKC. "Since 1995, Donlin Gold has worked constructively in our region and I know our partnership will benefit our shareholders for many generations. Today’s agreement sets the basis for a long and productive relationship that with construction of the mine will provide jobs and financial value to the shareholders in our 10 villages."
"This Agreement represents a strong commitment by the project’s key stakeholders to continue advancing Donlin Gold in a responsible and sustainable manner for the benefit of the region and its shareholders," said Stan Foo, General Manager, Donlin Gold, which is owned equally by subsidiaries of NOVAGOLD and Barrick Gold Corporation. "Our strong and time-honored relationship with TKC and Calista Corporation, who, respectively own the surface and mineral rights to the lands encompassing the Donlin Gold project, forms a solid foundation for its successful development."
"I would like to congratulate Donlin Gold and TKC in successfully extending this Agreement, which preserves a mutually-beneficial undertaking that will have far-reaching impacts, not only to the local communities but all of our stakeholders who will participate in the development of this remarkable gold deposit," said Greg Lang, NOVAGOLD’s President and CEO. "We truly appreciate our partnership with the Alaska Native Corporations and look forward to a prosperous future."
