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Nisga’a, mining company announce economic agreement – Abbotsford News

Avanti Mining Inc. and the Nisga’a Nation have announced an agreement for the latter to receive economic and other benefits from the company’s planned molybdenum mine at Kitsault on the north coast.

“The agreement will address a number of outstanding Nisga’a concerns in respect of environmental protection, provide economic benefits to the Nisga’a Nation (including a net smelter royalty of up to 2 per cent based on prevailing molybdenum prices), and resolve all outstanding litigation,” states a company release of this morning.

The project is located within the Nass Area, in which the Nisga’a Nation has certain treaty rights under the 2000 Nisga’a Final Agreement.

This is the first major economic agreement negotiated by the Nisga’a Lisims Government.

Molybdenum is primarily used to strengthen steel.

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