Thursday, June 25, 2009

Ridley Terminals and Coast Tsimshian announce terms of new agreement

"Forging a new relationship with the Coast Tsimshain [first nations] simply makes good business and economic sense,"-- Dan Veniez outlining the genesis of today's announcement with the communities of the Coast Tsimshian.

It's a new arrangement on the current business plan for Ridley Terminals, as members of the Coast Tsimshian will be offered first right of refusal on all future capital contracts awarded by Ridley Terminals.

That was the outcome of today's announcement at Chances convention centre, as Dan Veniez, President of Ridley Terminals and John Helin, chief councillor of the Tsimshian community of Lax Kw' alaams, Elmer Derrick, from the Gitxsan First Nation and Chief Councillor of the Metlakatla First Nation, Harold Leighton, praised the new vision of cooperation from Ridley Terminals and outlined the nature of the new relationship between Ridley Terminals and the Coast Tsimshian.

According to an online story posted on the Vancouver Sun website, The Coast Tsimshain communities will be given an opportunity to bid on, or form business partnerships with other firms to bid on, all request-for-proposal worth more than $500,000.

In order to make that feasible, Ridley is expected to "make commercially reasonable efforts" to solicit first nations' participation by breaking up large contracts into smaller components that they can handle.

Exactly what kind of ventures the two will partner on has yet to be determined or announced, but a better idea on those issues may come within thirty days.

As part of the announcement today, the two parties agreed to form a Joint Implementation
Committee, tasked with developing open and frank dialogue between Ridley and the Coast Tsimshian as they relate to all matters pertaining to new projects at the Terminal.

The Joint Implementation Committee will also review and consider all aspects of such projects and performance under the terms of the new agreement.

Vancouver Sun-- Natives offered first-refusal rights on Prince Rupert coal terminal capital contracts

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