Ontario First Nation signs diamond mine agreement

De Beers Canada is a step closer to developing Ontario's first diamond mine on the James Bay coast after striking a deal with the Attawapiskat First Nation.

The company wants to construct the mine in the muskeg about 90 kilometres west of the small, isolated Cree community.

The agreement sets out how the aboriginal group will be compensated for use of its traditional lands.

For more than five years, people have been debating whether a diamond discovery in their backyard spelled opportunity or a threat to the reserve's traditional way of life and culture.

The newly ratified Impact Benefit Agreement attempts to settle that debate; it promises the First Nation jobs, training and money.

The CBC has obtained a confidential copy of the agreement, in which DeBeers and the First Nation have set targets for the number of local people employed at the mine.

During the construction phase, the mine is expected to employ about 600 people. De Beers is guaranteeing that it will hire about 30 people from Attawapiskat.

The company has agreed to invest in training programs and give Attawapiskat businesses priority for contract work.

The First Nation will get yearly financial payments from De Beers. Neither party will say how much.

Even with its agreement with the First Nation, De Beers still needs to clear regulatory hurdles before it can begin constructing the mine.

The federal government is in the midst of its environmental review of the project. It's expected to make a decision later this summer.