Kivalliq Inuit Association plans for mining royalties of up to $100M

The Kivalliq Inuit Association (KIA) is planning how to invest anticipated mining royalties of up to $100 million.

David Ningeongan, KIA president, said the organization now has $23 million in a variety of endowment and operating funds, but he said the association could earn $100 million in royalties over the next 10 years.

The associationbegan consulting with communities on the plan in August.

Last week, the association held a public meeting in Rankin Inlet, Nunavut, to discuss plans for an education fund.Ningeongan estimated more than 100 people showed up for the meeting.

Ningeongan said the plan is to take four per cent a year of mining royalties and dividends from the Inuit organization's business arms Nunasi Corporation and Sakku Investments to fund programming.

Of that four per cent, the draft plan is to put 10 per cent into an education fund for scholarships and support programs.

"It's a long shot, but my vision is someday KIA gets a billion dollars in the bank account, 40 million would be doing a lot for our region I know a hundred million is far from a billion, but it's a start," Ningeongan said.

The royalties areexpected to come from the new Meliadine gold mine and the Whale Tail deposit near the Meadowbank mine.Ningeongansaid royalties from theMeadowbankminewill amount to approximately $6.1 million for theKIA.

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Cultural centres and healing programs

From the $23 million KIA has on hand, it has pledged $2 million to build a cultural centre in each Kivalliq community, except Rankin Inletwhich already has one.

Ningeongan said the $2 millioncontribution is being matched byNunavut Tunngavik Inc, but KIA is looking to the federal government to finance 75 per cent of the the centres' cost.

He said the federal government has not committed to anything yet, but the organization is going ahead with the construction of Chesterfield Inlet's cultural centre this summer.

The plan is to build one a year, but if funding comes in, the timeline might be accelerated, said Ningeongan.

The 5,800square foot centres would include a visitors' centre, a sewing room, a space to clean polar bear and sealskin, a tool shop, a kitchen, offices and a boardroom.

The royaltieswill help fund programming at the cultural centres, including kamik-making workshops andhealing activities with elders.

At the meeting in Rankin Inlet, Ningeongan said he heard from Inuit with disabilities who want to see their needs included in the plansomethingKIA will look in to, he said.

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