The Cree First Nation of Waswanipi (CFNW) is to transport hydroelectric power to Osisko Mining Inc’s Windfall gold mining operation in Quebec, Canada
Under a new memorandum of understanding (MOU), the CFNW will finance, build, own and operate a 120kV transmission line that will transport hydroelectricity to the Windfall project and surrounding area. As an end user, Osisko will pay transportation fees to the CFNW. The MOU will ensure delivery of hydroelectricity to Osisko’s Windfall project for a nominal period of 18 years, with further extensions over the life of the Windfall mill.
The MOU solidifies the partnership approach between Osisko and the CFNW to natural resource development. Additionally, using hydroelectric power through the final stages of exploration and throughout the construction and operations phases will reduce greenhouse gas emissions by reducing the Windfall project’s dependency on fossil fuels.
“Osisko is proud to enter into this MOU with the Cree First Nation of Waswanipi, historically a new approach with respect to conducting business on Eeyou Istchee/James-Bay territory,” commented CEO and Chairman of Osisko John Burzynski. “The hydroelectric power transportation MOU is aligned with Osisko’s vision for sustainable development of natural resources, and with the CFNW’s vision of sustainable infrastructure within their traditional territory.
Chief Marcel Happyjack of the Cree First Nation of Waswanipi added: “Osisko has consulted and worked with us as rightsholders since their acquisition of Windfall in August 2015. Their sustainable development approach is highlighted by the success of Miyuukaa Corp., our socio-economic development entity. This ownership opportunity is the culmination of years of mutual respect and collaboration. We are writing a new chapter in sustainable infrastructure development within the Eeyou Istchee/James Bay territory.”
