De Beers Canada releases Socio-Eco report

De Beers Canada Inc. has released its 2008 Snap Lake Socio-Economic Report. The contents of the report summarise the contribution of the company to the economic, social and cultural well-being of the Northwest Territories.

The highlights of the contents include: With an additional $295.9 million spent in 2008, the company’s total investment on Snap Lake’s construction and operations stood at $1.235 billion at the end 2008; the company spent $218.7 million with NWT businesses (74% of total spend) and $132.9 million with northern Aboriginal businesses or joint ventures (61% 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, six 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 the 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 the Cultural Centre at Snap Lake and the beginning of a number of cultural based programmes 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.