Summary of the Agreements
HVC Participation Agreement
The Citxw Nlaka’pamux Assembly (CNA) was formed for the purpose of managing and administering the Eight Participating Bands’ commitments in the Participation Agreement with Teck Highland Valley Copper Partnership (THVCP) and Economic Community Development Agreement (ECDA) with the province of British Columbia. The CNA is also responsible for assisting the Participating Bands in implementing the Participation Agreement and ECDA. THVCP and the Participating Bands have worked towards building positive relationships, resulting in the creation of a protocol agreement in 2009, followed by interim agreements in 2010 and 2011, and then concluded to the final Participation Agreement which was signed June 30, 2013 and is a long-term definitive commitment between the Participating Bands and THVCP with respect to the Mine and mining activities in the area surrounding the Mine.
The Participation Agreement allows for an Implementation Committee (IC) with representatives from both THVCP and the appointed CNA Board of Directors representing the Participating Bands and is primarily responsible for ensuring that the commitments detailed in the Participation Agreement are met. The Participation Agreement commits THVCP to provide economic benefits to the Participating Bands concurrent with working towards increasing opportunities for training, employment, business development and contract work at THVCP for Participating Band owned businesses and members. Each of the Parties acknowledges and agrees that a key objective of this Agreement is for the Parties to work together in a cooperative manner in order to substantially increase Contract Opportunities for Participating Bands and their Businesses. The Implementation Committee will periodically assess the Contract Opportunities provided through this Agreement as part of the long term-planning process in order to develop strategies to improve upon such opportunities.
Economic & Community Development Agreement
The purpose of the ECDA between the Province of British Columbia and the Participating Bands is in the interest of facilitating and developing a thriving, competitive, safe and environmentally responsible mineral resource sector, while addressing the cultural and societal needs of the individual and collective Participating Bands through established priorities.
Nlaka'pamux Legacy Trust Indenture
The NLX Trust has been developed for the purpose of benefitting the beneficiaries while providing professional management and investment of Trust dollars. This is done to ensure the distribution of Trust dollars to the Beneficiaries provides for, or assists, in the long term socioeconomic well being of the Beneficiaries.
The Trust receives, manages and distributes funds generated from HVC. The purpose of this agreement is to share mineral tax revenues from HVC through the Participation Agreement between the Participating Bands and HVC. The Beneficiaries of the Trust includes the eight Participating Bands as well as the Citxw Nlaka’pamux Assembly (CNA).
There are various terms set out in the Trust Deed which stipulates how the Trust is to be managed, and how funds are to be shared amongst the communities. The funds are not to be used to provide for, or assist, in the long term social economic well being of the Beneficiaries, including the improvement of cultural, communal and economic stability.
Trustees are responsible for implementing and overseeing the Trust Deed. The Trustees hire professional investment managers to manage all or part of the funds. There are a number of policies and procedures in the Trust Deed which sets out what Trustees can and cannot do, as well are their responsibilities and liabilities.
There are four Trustees. Three from the the Nlaka’pamux Nation, and the fourth is an Administrative Trustee. Each Trustee is appointed for five years, and Nlaka’pamux Trustees serve staggered terms with appointments in years two, three and four to ensure continuity.