In 1996, Inco acquired the rights to the Voisey's Bay nickel-copper-cobalt deposits located on the eastern edge of a vast expanse of northern wilderness 300 kilometres north of Happy Valley-Goose Bay in Labrador, Canada.

In June 2002, Inco, through its wholly-owned subsidiary Voisey's Bay Nickel Company Limited (VBNC), and the Province of Newfoundland and Labrador jointly announced an agreement in principle on a $1.9 billion (Cdn. $2.9 billion) plan to develop the Voisey's Bay deposit. The negotiated agreements entered into in early October 2002 consisted of a Development Agreement and an Industrial and Employment Benefits Agreement.

Three years later, in the fall of 2005, operations came onstream in Labrador -- eight months ahead of shedule. 

Building Strong Relationships

The Voisey's Bay project is very much about relationships, including partnerships with the federal and provincial governments, and uniquely with aboriginal communities.

In hiring for our Labrador operations, we are committed to giving first consideration to aboriginals, Labradorians and Newfoundlanders. And we intend to ensure that benefits arising from all aspects of the project are maximized for the province and its people.

Impacts and Benefits Agreements (IBAs) signed by Inco and the Innu Nation and Labrador Inuit Association provide specific industrial and employment opportunities and cover a wide range of topics including environmental protection, education and training, and protection of aboriginal social and cultural values.

For detailed information on VBNC's social responsibility performance, please see its most recent Social Responsibility Report at www.vbnc.com.

Investing in the Community

VBNC supports communities in Newfoundland and Labrador through sponsorship and donations to local organizations.

The company has committed $13 million (Cdn.$20 million) to Memorial University for the development and operation of the Inco Innovation Centre at it's St. John's campus.  The Centre will enable Memorial's scientists, engineers and senior students to develop leading edge technologies to support advanced exploration techniques and provide support to chemical process engineering at Voisey's Bay. 

We have contributed $10 million (Cdn. $15 million) to help build the Labrador Health Centre in Happy Valley-Goose Bay, Labrador. The new facility boasts 30 beds and provides 24-hour care in acute, primary and secondary health services to some 14,000 residents of Happy Valley-Goose Bay and northern Labrador communities.

Read more about Inco's contributions to Newfoundland and Labrador in our most recent Good Neighbours Report on Health, Safety, Environment and Community.