TSX- and ASX-listed Champion Iron has signed an impact benefit agreement (IBA) with the Innu of Takuaikan Uashat mak Mani-utenam (ITUM) First Nation, confirming local support for the Bloom Lake iron mine, located near Fermont, Quebec.
The IBA is a life-of-mine agreement providing for real participation in the mine by ensuring training, jobs and contract opportunities, and guarantees that the ITUM will receive fair and equitable financial and socio-economic benefits. According to the First Nation, the latest accord represents a significant improvement over the initial one, signed in 2008, regarding environmental protection measures and ITUM’s monitoring of it.
