A Toronto junior miner, looking to put a former mine property back into production near Timmins, has struck an agreement with a neighbouring First Nation community.
Class 1 Nickel and Technologies and Matachewan First Nation (MFN) signed of a memorandum of understanding (MOU) to advance exploration for nickel, copper and cobalt at the company’s Alexo-Dundonald Nickel Sulphide Project, 45 kilometres east of the city.
A MOU is a first-stage agreement usually signed between an exploration company and a First Nation, establishing the ground rules for how exploration will be carried out on a community’s traditional land. It also provides a formal line of communication as activity progresses and opens the door for a First Nation to participate in the project.
If a mine is established, the two parties will work toward signing an impact benefit agreement potentially offering opportunities for Indigenous-owned service and supply companies, for mining jobs and training, and financial compensation.
“Class 1 Nickel proactively reached out to (Matachewan) as a traditional land holder in the Alexo-Dundonald Property area and engaged them in early dialogue on how the Project and associated infrastructure will be responsibly explored and developed,” said company president Ben Cooper in a March 11 news release.