Lower Nicola Indian Band signs mine tax revenue agreement
LOGAN LAKE – New agreements with the provincial government and Teck Resources means the Lower Nicola Indian Band will see new economic benefits from the Highland Valley Copper mine.
A revenue sharing agreement has been signed between the band and provincial government. The band will get a one time payment of $557,000 followed by a share of the mineral tax paid to the province, according to a B.C. government release.
A consultation process is also being established between the band, provincial government and Teck regarding decisions to do with the mine.
A separate agreement between the band and Teck has also been announced. The company and band plan to work together on employment, business, environmental and cultural heritage planning.
The deal is part of the provincial government’s reconciliation efforts with First Nations, according to the release.
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