St. John’s, Newfoundland and Labrador - The Government of Canada welcomes significant economic and skills development opportunities, especially for Aboriginal people, offered by the start-up of the Voisey’s Bay nickel mine in Labrador. Government of Canada investment in this project could involve $150 million in support for research and development, technology and Aboriginal training and skills development.

Inco Limited and the Province of Newfoundland and Labrador have successfully negotiated an agreement for a mining lease at Voisey’s Bay. Inco has also reached tentative agreements on impacts and benefits with the Labrador Inuit Association and the Innu Nation. The project involves the development of the nickel deposit as well as construction of a hydrometallurgical processing plant on the Avalon Peninsula.

Inco has applied for a strategic research and development repayable investment under Industry Canada’s Technology Partnerships Canada program to support the research and development of its innovative hydrometallurgical processing technology, including construction of a pilot plant in Argentia for processing the nickel concentrate from the Voisey’s Bay mine. A variety of existing programs in Human Resources Development Canada, the Atlantic Canada Opportunities Agency, and Indian and Northern Affairs Canada will also provide possible sources of funding for Aboriginal people for training and business development. Funding is subject to standard approval procedures. "After many years of planning and discussion, a huge new economic opportunity for Newfoundland and Labrador will soon transform into a reality," said the Honourable Gerry Byrne, Minister of State (Atlantic Canada Opportunities Agency).

"The development of Voisey’s Bay will provide us with further job growth, it will broaden our resource processing capabilities and foster even further benefits through research, development and innovation. It will lever new economic opportunity for both the Innu and Inuit and increase the province’s gross domestic product to a new high."

"Human Resources Development Canada’s contributions will help to equip Aboriginal people with the skills they need to fully participate in this project," said the Honourable Jane Stewart, Minister of Human Resources Development. "This is an important part of the Government of Canada’s skills and learning agenda." "The Department of Indian Affairs and Northern Development’s support for First Nations, Innu and Inuit to participate in the development of Voisey’s Bay will ensure that Aboriginal businesses come to the table as equal partners," said the Honourable Robert Nault, Minister of Indian Affairs and Northern Development. "This will create the jobs that will sustain communities in Newfoundland and Labrador."

"Inco is advancing a leading-edge technology with significant potential for reducing acid rain and promoting eco-efficiency," said the Honourable Allan Rock, Minister of Industry. "We are working to ensure these opportunities — for sustainable development, for our resource industries, and for the economy and people of Newfoundland and Labrador and all of Canada are realized."

"The Voisey’s Bay project will bring jobs and greater prosperity to this region," said the Honourable Herb Dhaliwal, Minister of Natural Resources Canada, coordinator of the federal participation. "The Government of Canada will support the efforts of Aboriginal people to take advantage of the economic opportunities that this project offers."

Construction is planned to begin in the summer of 2002. The mine is expected to produce nickel concentrate by 2005– 2006. It will also contribute to sustaining Inco’s operations in northern Ontario and Manitoba. Inco gained ownership of the Voisey’s Bay nickel deposit in 1996 when it acquired Diamond Fields Resources Inc. This initiative builds upon the Government of Canada’s commitments to providing the tools Aboriginal people need to build a better future for themselves and their communities, and supporting research and development that create a world-leading economy driven by innovation, ideas and talent.