De Beers pressured in First Nation suicide crisis | World War 4 Report

28.4.16

De Beers pressured in First Nation suicide crisis | World War 4 Report: Bill Gallagher, author of the book, Resource Rulers, points to international diamond company De Beers as complicit in the crisis at Attawapiskat. In 2007, the company and the Attawapiskat council worked out an agreement based on the provincial tax rebate of five percent as a remote "northern mine." This rate was the basis for the Impact Benefits Agreement (IBA) signed by De Beers and the community.

However, a change to the provincial budget saw De Beers lose its remote mine status, and the tax on diamonds was raised to 13%. Less profit for the company meant fewer funds to be shared under the IBA. "Critically needed economic development money was being siphoned off in a last-minute tax reversal," Gallagher states.