Vale Inco’s decision to construct a hydromet processing facility for Voisey’s Bay ore is welcome news and further proof that the Voisey’s Bay deal continues to be very positive for the people of Newfoundland and Labrador, says Opposition Leader Yvonne Jones.

“There have been many critics over the years, including the current premier, who didn’t believe that Vale Inco would construct a state-of-the-art hydromet facility in our province,” said Ms. Jones. “Ever since the agreement was signed, I had tremendous faith that our business partners at Vale Inco were committed to this project and wanted to see significant benefits accrue to the people of Newfoundland and Labrador. I am pleased that the project can now proceed to the next stage as was intended.”

The Voisey’s Bay agreement was signed June 11^th, 2002, under the previous Liberal Government and Premier Roger Grimes. When signed in 2002, it was expected that 3000 person years of employment would be created during the three-year construction period and approximately 400 people would be employed annually during operations. The capital cost was estimated at $800 million.

“While significant direct benefits are being experienced from this project, it is also important to remember that this deal was the precedent for negotiating benefits agreements with aboriginal groups in our province. Vale Inco reached impact, employment and benefits agreements that have helped strengthen and grow aboriginal communities in Labrador. Other companies are now expected to follow similar templates as they look at developing future projects.

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