Qikiqtani Inuit Association reports $18.7M surplus

Baffinland has begun sharing royalties from its Mary River iron mine and the Qikiqtani Inuit Association is reaping the benefits.

The mine only started producing raw iron last month, but it still helped the Baffin-area Inuit organization post an $18.7 million surplus for this fiscal year.

QIA gets royalties from the company through the Inuit Impact and Benefit Agreement for the Mary River Project.

The mine really hasnt taken off yet, says QIAs acting president Larry Audlaluk. Its just getting ready to go, so were pretty excited.

Baffinland says it's looking to expand its Inuit workforce, primarily drawing from the Baffin communities of Pond Inlet, Arctic Bay, Clyde River, Igloolik and Hall Beach.

"Our focus is to draw as many employees as possible from those communities, says vice president Greg Missal. We spend a lot of time in those communities. We have community liaison officers in all five of those communities.

Missal says his company will spend the next few months finishing a port at nearby Milne Inlet.