Page 94 Impact Benef t Agreements Pro mote Mutual Respect between Min ing Companies and First Nations Northern Ontario s economy is driven by mining and other re sourcebased projects Before such projects can proceed a com pany needs to reach an agreement with First Nations and Indigenous groups on whose traditional lands the development takes place These agreements are known as Impact benef t agreements or IBAs or Community Benef t Agreements and they are an integral part of to day s mining landscape IBAs generate mutual respect and certainty for both parties and a willingness to share in the area s mineral wealth They create a part nership for the sharing of benef ts between the First Nations and for example a mining company Creating partnerships is the only way forward W e meet and get to understand each other and share stories and create trust Partner ships is not all about capital it s about mutual trust said Jason Gauthier Chief Missanabie Cree First Nation Missanabie Cree have an IBA signed with Island Gold Mine origi nally owned by Richmont Gold Mines and since acquired by Ala mos Gold November 2017 The Island Gold Mine is located 83 kilo metres northeast of W awa Ontario An IBA is a negotiated agreement between a mining company and a First Nations in whose territory the mining projected is located Each IBA is unique They are le gal documents that contain dispute resolution mechanisms and binding Impact Benef t Agreements IBA Promote Mutual Respect between Companies and First Nations Page 92