BQE, Nuvumiut win 3 yr water-treatment deal at Nunavik

Executive Summary

• BQE Water Inc.'s joint venture, BQE Water Nuvumiut Development, secured a three-year agreement with Canadian Royalties Inc. (CRI) to operate mine water treatment plants at CRI's Nunavik nickel project.
• The agreement involves the seasonal operation of five treatment systems, typically active from May to October, to manage water volumes requiring treatment at the mine site.
• This contract expands BQE Water's existing partnership with Inuit communities in Nunavik and reinforces its core expertise in mine water treatment operations in Eastern Canada and Quebec.

Key Details

• Contract Term: Three-year agreement.
• Counterparties:
  • Service Provider: BQE Water Nuvumiut Development Inc. (a joint venture between BQE Water and Nuvumiut Development).
  • Client: Canadian Royalties Inc. (CRI), a private mining company based in Montreal.
• Project Scope: Operation of mine water treatment plants at CRI's Nunavik nickel project, which includes open pit and underground mines and a concentrator plant producing copper and nickel sulphide concentrates.
• Operational Details:
  • Involves five treatment systems.
  • Seasonal operation, typically running from May to October.
  • Duration depends on the volume of water requiring treatment.
• Joint Venture Structure:
  • BQE Water Nuvumiut Development Inc. is owned equally by BQE Water and Nuvumiut Development.
  • Nuvumiut Development is fully owned in equal share by Qaqqalik Landholding Corp. (Salluit) and Nunaturlik Landholding Corp. (Kangiqsujuaq).
  • The joint venture is registered with Makivvik Corporation, an Inuit land claims organization.

Notable Quotes

• Adamie Alaku, President of Nuvumiut Developments Inc.: "Clean water is essential to our communities, and we are very pleased that CRI selected BQE-Nuvumiut for the role that helps ensure the environment is protected."
• David Kratochvil, President and CEO of BQE Water: "This new contract expands the scope of our existing partnership with Inuit communities centered around water stewardship in Nunavik and will support the growth and strengthening of BQE's core expertise in mine water treatment operations in Eastern Canada in general and Quebec in particular."