Teck Resources Ltd. (TSX:-TCK.B), one of Canada’s largest resource companies, has signed an Impact Management and Benefits Agreement with the Ktunaxa Nation Council that is being described as a “working document for the future.”
Kathryn Tenesse, the chair of the Ktunaxa Nation Council said the idea is to lay a groundwork for subsequent projects in the area related to the five Teck steelmaking coal operations. The company has been doing resource extraction in the southeastern Kootenay region for the past 40 years.
“It wasn’t until we were able to engage with Teck that we really had any opportunity to participate,” said Tenesse. “So it was challenging task. But the way that we structured the agreement is that we can be looking at each of the components of the existing mines and expansions, or other areas to expand to. The fact that we’re able to do that by project, that doesn’t topple the whole agreement, is one of the unique factors of this agreement.”
Tenesse said the idea is set guidelines for “meaningful involvement” in regards to the area’s resource extraction projects. As stated in the release, the agreement looks to focus on “consultation and engagement”, “environment and land stewardship”, “employment and business opportunities for Ktunaxa citizens” and “cultural resources management.”
“It identifies activities that need to continue on an ongoing basis and it’s built on the relationships that we have with Teck. And that our voice is part of the reports that are submitted to government in terms of their decisions regarding things like an environmental certificate.”
Teck recently spent $120 million to build a new water treatment plant for its Line Creek coal mine in the Elk Valley. A total of six are needed in the Elk Valley, and Teck are planning on building six more as per recent government requirements.
@BIVnews
