The Government of Canada, the Government of Newfoundland and Labrador, and the Government of Nova Scotia made the following statement today:

“Our Governments are committed to the Muskrat Falls hydroelectric project. Together, we are continuing to work in collaboration to complete a loan guarantee. The Muskrat Falls hydroelectric generation facility and the three transmission projects will provide significant economic benefits to the Atlantic region and will substantially reduce greenhouse gas emissions.

“The Memorandum of Agreement remains in place. The Government of Newfoundland and Labrador and the Government of Nova Scotia recognize that the Government of Canada continues to uphold its part of the Memorandum of Agreement. The Government of Canada, for its part, remains committed to a loan guarantee. Our Governments continue to meet and discuss this important project regularly as we move forward on providing all the data necessary.

“Together, we have reached many milestones in this process, including:

• Signing a Memorandum of Agreement which showcased our mutual commitment and lays out a framework for a loan guarantee;
• Signing the New Dawn agreements and the agreement in principle for the land claim with the Innu of Labrador, which has achieved progress towards settling an important land-claim in the region and allows this project to move forward; and,
• The appointment of a federal Financial Advisor that will inform the process.

“We will work together going forward on a guarantee that will be completed in a timely manner while ensuring that all due diligence is performed.”

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2011 11 28             1:35 p.m.