Impact benefit agreements

The delicate interplay between the costs of resource exploitation and transportation and the predicted gains of selling the extracted resources has become a promising enterprise in view of a soon-to-be ice-free shipping passage in the Arctic. [...] The term Inuit Nunangat refers to the homeland of Inuit in Canada and encompasses the four land claim settlement areas of Nunatsiavut, Nunavik, Nunavut and the Nunakput or Inuvialuit region. [...] The third chapter discusses the context within which IBAs evolved in Canada and the processes developed to accommodate the diverse interests of the parties involved. [...] Impact Benefit Agreements need to be seen in the context of the agreements on Indigenous land ownership and use, and the economic goals of resource extraction industries. [...] The resource industry now strongly believes that the consent/approval of a mining venture and partnership with Aboriginal communities contributes to the profitability and the ultimate success of the operation.