Documents show Attawapiskat gets 0.5% share of annual diamond revenues
Disputes over the value of Attawapiskat’s nearby diamond mine provide a lesson for other First Nations considering mining deals, according to the Assembly of First Nations’ Ontario Regional Chief.
“It’s a learning tool and we have to learn from that,” Stan Beardy said. “But going to the future, I think we need to look at what is fair, what is adequate and what is reasonable.” Members of Attawapiskat First Nation erected another blockade this week on the road to the mine.
According to the First Nation’s trust fund documents, Attawapiskat receives about $2 million annually from De Beers as a royalty. Based on information available on the company’s website, the annual revenue of De Beers’ diamond production at its Victor Mine near Attawapiskat is about $400 million. Continue Reading →