PBCN Chief Karen Bird and Executive Chairman & CEO Dan Myerson signing the Collaboration Agreement (CNW Group/Foran Mining Corporation)

By Nigel Maxwell

Economic partnerships

PBCN and Foran Mining Corp. sign economic partnership agreement

Jul 17, 2023 | 12:01 PM

A freshly signed collaboration agreement between the Foran Mining Corporation and Peter Ballantyne Cree Nation (PBCN), aims to provide big rewards for PBCN members.

According to a press release Monday, the agreement which involves Foran’s wholly-owned subsidiary, McIlvenna Bay Operating Ltd. (MBO), strategically emphasizes education.

By facilitating diverse training avenues, the agreement aims to stimulate employment and business opportunities. Beyond these pillars, the agreement extends thoughtfully designed financial and economic benefits to further empower the PBCN community.

“Our Creator granted us the inherent right to determine our own destiny. Part of realizing our destiny is restoring prosperity to our people. This agreement ensures that our Nation and our members can develop an economic base which provides prosperity and self-reliance while recognizing that we are stewards of our traditional lands”, PBCN Chief Karen Bird said.

The McIlvenna Bay project, a copper-zinc-gold-silver rich VHMS deposit, is located entirely within the documented traditional territory of the Peter Ballantyne Cree Nation. Bird explained the financial benefits will make an important contribution to improving the quality of life of PBCN members, adding the employment and contracting opportunities will provide sustainable and transferable careers and business opportunities for both individual PBCN Members and PBCN Businesses.

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“While it has taken a significant amount of effort by both parties to achieve the partnership we have today, it will endure through the life of the mine. PBCN will continue to take an active role, both in collaboration with Foran, through the MBO PBCN Environment Committee, and independently through our own community-led monitoring programs,” she said.

Dan Myerson, Foran’s Executive Chairman and CEO, commented he is both excited and profoundly moved to announce this landmark Agreement with PBCN.

“This partnership is the result of truly listening to the local communities and responding with an unparalleled agreement that reflects these discussions. It speaks to our dedication to empowering the PBCN community, with a strong commitment to providing PBCN members with training and job opportunities and PBCN businesses with contracting opportunities,” he said.

Myerson explained the company believes that in order for a company to succeed over the long run, it must build deep and meaningful relationships with local rights-holders and stakeholders and prioritize those groups’ needs.

“This agreement with PBCN is not just about what we can achieve today, but what we can build for tomorrow. It’s more than a partnership; it’s a commitment to shared growth, prosperity, and a legacy of success for generations to come,” he said.

In February, 2022, Foran announced the results from its Feasibility Study, outlining that current mineral reserves would potentially support an 18-year mine life producing an average of 65 million pounds of copper equivalent annually.

The company has since filed technical reports for both the McIlvenna Bay Feasibility Study and the Bigstone Deposit resource estimate. The full text of these technical reports can be found on the Company’s profile on www.sedar.com.

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nigel.maxwell@pattisonmedia.com

On Twitter: @nigelmaxwell