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NUNAVUT
The Inuit Impact Benefit Agreement (IIBA) between the Qikiqtani Inuit Association (QIA) and Baffinland Iron Mines Corp. over Baffinland's Mary River Iron Ore Project, is well on its way to ratification.

The association stated in a Sept. 9 news release that consensus has been reached on many primary areas of the draft agreement, including education, training, business opportunities and finance.

"Our progress on the IIBA demonstrates commitment on behalf of QIA and Baffinland to negotiate an agreement that will promote and sustain benefits for Inuit," QIA president Okalik Eegeesiak said.

President and CEO of Baffinland Tom Paddon said the agreement is an important step in building the relationship between the company and the Inuit association.

"I have seen first-hand the growth and prosperity that can be reached by aboriginal organizations through these types of agreements," Paddon said.

The consensus reached is a "significant milestone" in the negotiations, according to the release, noting both groups are continuing to work toward the final agreement.

The association and Baffinland signed a memorandum of understanding in 2009.

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