Thursday, 22nd February 2007 (2887 views)

A licence has been acquired Cumberland Resources so that the construction of a road can now take place in and around the Meadowbank gold project in Canada.

The Water Licence Type B was granted by the Nunavut Water Board and will provide transport links to the project that has the largest open pit gold reserves in the whole of Canada.

In addition, Cumberland resources has also reached an agreement with the government of Nunavut regarding a Development Partnership Agreement.

Kerry Curtis, president and CEO of Cumberland, said that the agreement with the government Nunavut would result in an increase in employment prospects and economic benefits for the people of neighbouring Baker Lake and beyond.

He also added: "Nunavut is providing a unique fuel tax rebate program for mining companies and Cumberland is proud to be one of the first companies in Nunavut to participate in the program."

The rebate offered to Cumberland will allow the company to enjoy decreased fuel costs and therefore enable the mining industry to flourish in the area.

 

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