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De Beers Snap Lake Mine Releases 2008 Socio-Economic Results

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  • George Lessard
    De Beers Releases 2008 Socio-Economic Results for Snap Lake Mine By Press Release Posted: 05/31/09 04:20
    Message 1 of 1 , Jun 1, 2009
      De Beers Releases 2008 Socio-Economic Results for Snap Lake Mine
      By Press Release Posted: 05/31/09 04:20


      RAPAPORT... Press Release - Yellowknife: De Beers Canada Inc. is pleased
      to release its 2008 Snap Lake Socio-Economic Report summarizing the
      company’s contribution to the economic, social and cultural well-being of
      the Northwest Territories.

      Highlights in the report include:

      • Another $295.9 million spent in 2008, bringing the company’s investment
      on Snap Lake’s construction and operations to $1.235 billion at the end

      • $218.7 million spent with NWT businesses (74 percent of total spend) and
      $132.9 million spent with northern Aboriginal businesses or joint ventures
      (61 percent of northern expenditure);

      • A transition from construction to operations that saw growth of the
      companies northern workforce in absolute numbers to 274 people bringing
      the company very close to achieving its NWT Residency target as forecast
      during the environmental assessment;

      • 15 Trades Trainees, 6 apprentices and 13 underground mine trainees
      participating in northern training and development initiatives;

      • $1.9 million dollars spent on corporate and social investment of which
      $1.2 million was spent on training and capacity building initiatives for
      NWT residents;

      • Completion of the sixth year of our De Beers Books in Homes Literacy
      initiative, with over 17,000 books delivered to date to children in
      communities close to our mine; and

      • The opening of our Cultural Centre at Snap Lake and the beginning of a
      number of cultural based programs for employees.

      “In 2008 we finished construction and commissioning of the underground
      crusher and conveyor system, we commenced commercial production in first
      quarter, and we celebrated the official opening of the Snap Lake Mine with
      close to 200 special guests in July,” said Chantal Lavoie, Chief Operating
      Officer. “Our employees did an amazing job in 2008 and their resilience is
      bringing us through the turbulent times of 2009.

      The full report is available on De Beers Canada’s website at
      www.debeerscanada.com and can be picked up at the NWT/Nunavut Chamber of
      Mines office in Yellowknife.

      The Snap Lake Mine is located 220 kilometers northeast of Yellowknife and
      was the first of two diamond mines opened in Canada De Beers in 2008.

      For further information, visit www.debeerscanada.com.

      For more information, contact:
      Cathie Bolstad
      Director External and Corporate Affairs
      De Beers Canada Inc.
      Tel: (867) 766-7325

      Rapaport News is not responsible for and does not endorse the content of
      any Press Release. Press Releases are not written by us and are provided
      as a service to our clients.

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