Atikameksheng Anishnawbek First Nation and Quadra FNX Mining Ltd. have signed a Memorandum of Understanding whereby the two parties have agreed to enter into negotiations to work toward a final agreement.

That agreement will define the future working relationships between the two parties, which meet the needs and interest of both Atikameksheng and Quadra FNX.

Steve Miller, Chief of Atikameksheng Anishnawbek, stated in a press release that the signing of the MOU is one step closer towards building a solid foundation with Quadra FNX.

This MOU will also nurture negotiation to reach a final agreement with not only the activities to develop the Victoria advanced exploration project, but with other activities and exploration projects that may occur within the Atikameksheng Anishnawbek's Territory by Quadra FNX.

The Atikameksheng Anishnawbek Reconciliation Team along with the Negotiation Team of Quadra FNX worked diligently to get to this point.

“Although much work is still needed to reach a final agreement, I commend the hard work that both teams have done,” Miller said. “We have a good working relationship with Quadra FNX and expect that to continue as we move toward negotiating a final agreement.”

"The MOU and Agreement is an important step in Quadra FNX's establishment of a long-term relationship with Atikameksheng, as well as other stakeholders in the Sudbury area,” Paul Blythe, president and Chief Executive Officer of Quadra FNX, said.

“We believe this MOU will lead to a mutually beneficial partnership for both Quadra FNX and Atikameksheng, as we continue to look for opportunities to develop projects in Sudbury, including Victoria, which we are moving towards development.”

Posted by Arron Pickard