Teck Resources (TSX: TECK.A) has signed a joint management agreement with the Ktunaxa Nation to protect 7,150 hectares in southeast British Columbia.
The diversified resource giant, along with the Ktunaxa Nation and other significant stakeholders, purchased the land in 2013 for conservation in what is considered one of the largest private sector investments in land conservation in British Columbia's history.
Located in the Elk and Flathead River valleys - Teck's steelmaking coal region - the land consists of three parcels: 992 hectares comprising the Flathead townsite, 3,098 hectares in Alexander Creek, and3,059 hectares in Grave Prairie.
It's a major habitat for a variety of species, including grizzly bear, wolverine, badger, elk, lynx, mountain goat, bighorn sheep, westslope cutthroat trout and bull trout, and holds substantial value for local communities.
"This agreement between the Ktunaxa Nation and Teck solidifies our commitment to protect ʔa·kxam̓is q̓api qapsin (All Living Things) in our territory of ʔamakʔis Ktunaxa," said Kathryn Teneese, Chair of the Ktunaxa Nation.
"We look forward to working with stakeholders in the region to ensure this unique area will be managed according to principals of respect for the land and all those who live within it," she added.
Under the terms of the agreement, the two parties will jointly manage the land in order to protect fish and wildlife habitat. The deal also supports the Ktunaxa Nation's stewardship principles and Teck's endeavours to achieve a net positive impact of biodiversity in the regions where the company operates.
The deal will take effect this month and will include the development of conservation management plans with input from local communities.
"This agreement will support responsible joint management and protection of these important conservation lands," said Don Lindsay, President and CEO of Teck Resources.
"Together, we can advance our mutual objective of conserving these culturally and ecologically significant lands for years to come, while also making progress towards Teck's vision of a net positive impact on biodiversity," he concluded.
Teck Resources is currently down 1.06 per cent to C$28.94 per share at 2:59pm EST.