Thames First Nation band surrenders land claim in exchange for $120 million

Chief Joe Miskokomon said the settlement marks a time for

Chief Joe Miskokomon said the settlement marks a time for "reconciliation." (CRAIG GLOVER, QMI Agency)

Jennifer O’Brien, QMI Agency

, Last Updated: 3:18 PM ET

LONDON, Ont. — The mood was sombre, not celebratory Monday as the Chippewas of the Thames First Nation band council sat down with a government minister to sign an historic multimillion dollar deal.

According to the settlement agreement, signed by Aboriginal Affairs Minister Bernard Valcourt, the community surrendered its land claim in exchange for $120 million, to be used to purchase land for commercial development and an urban reserve.

Portions of the sale of the 40 sq-km area near St. Thomas, Ont., are also being dedicated to education, monthly income for the elderly and community resources.

Each adult member of the community of about 700 received $7,500 cash.


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