The government of the Canadian province of British Columbia and the Nisga’a Nation signed an agreement today that ensures that the latter receives a share of the mineral tax revenue collected from the Brucejack Gold Mine.
The project, owned and operated by Pretium Resources (NYSE:PVG), is an underground mine that has been operational since April 2017. It is located 65 kilometres north of the town of Stewart on a land package of more than 122,000 hectares.
Back in March, the mine reached record production of 32,910 ounces, while overall output for the first quarter of 2018 was 75,689 ounces.
Based on these results, the B.C. government believes that the revenue-sharing agreement has the potential to generate more than $8 million annually for the Nisga’a Nation.
The Indigenous group has also in place a cooperation and benefits agreement with Pretium. The deal, which dates back to 2015, sets the rules for collaboration in issues regarding permitting processes. It also states that the Nisga’a Nation should receive financial and other benefits as project milestones are reached.
For the rest of this article: http://www.mining.com/first-nation-british-columbia-share-gold-mine-tax-revenue/