THE DEAL

These are the main provisions of the IBAs:

• Education and Training. Inco must contribute specific amounts of money to career counselling, Stay-in-School programs, scholarships, and school awards. The company must also participate in a construction training program and a student employment program.

• Employment. Priority goes to hiring Innu and Inuit. Aboriginal people should make up 25-50% of the mine’s workforce. (Inco cannot be forced to meet these targets, however.)

• Workplace Conditions. Advisory committees of Inuit and Innu employees can make recommendations to the mine’s managers. Aboriginal employees shall be able to go on leave for cultural reasons (for example, hunting). Innu and Inuit elders shall be able to make visits to the mine site. Other programs and events will promote understanding between Aboriginal and non-Aboriginal people.
• Business Opportunities. Priority will go to aboriginal companies when the mine purchases goods and services.
• Financial CompensationCompensation: something (such as money) given or received as payment or reparation (as for a service or loss or injury).. There are baseline fixed payments to Nunatsiavut Government and Innu Nation over the life of the mine. Additional payments are payable depending on the overall prosperity of the operation. Separate payments are made to the Innu Nation and to the Nunatsiavut Government as compensation for loss of harvesting opportunities.
• Of the royalties Inco pays annually to the Government of Newfoundland and Labradortest description, Nunatsiavut is to receive 3%, and the Innu to receive 5%. These royaltyRoyalty: in mining, a royalty is a tax that mining companies pay to government for the extraction of public resources. In Yukon, mining royalties are a percentage of an amount roughly equivalent to a company’s Annual Operating ProfitAnnual Operating Profit: a business’ Gross RevenuesGross Revenues: money generated by all of a company's operations, before deductions for expenses, sometimes simply called “the Gross.”, minus Variable and Fixed Costs.. details are included in the land claim agreements or agreements in principle between Nunatsiavut and the Innu Nation with the provincial government, not the IBA.
• Environmental Protection. Inco is to fund environmental monitors who are at the mine site at all times. These monitors are employees of the Innu Nation and Nunatsiavut and report directly to them.
• ImplementationImplementation: the carrying out or execution of an agreement, decision, or plan.. Joint committees of Inco, Inuit, and Innu representatives will be appointed to make sure that the provisions of the IBA are properly carried out.
• Dispute resolutionDispute Resolution: a process by which two or more parties may discuss their disagreements and come to decisions about how to proceed.. To date all disputes have been resolved by discussions between leaders of Inco, the Inuit, and the Innu.