A deal years in the making will see a Manitoba community own mining rights and properties valued at nearly $1 billion that will create 500 jobs in the region.

The Norway House Cree Nation announced Monday that it now has full ownership of dozens of nickel and platinum element mining claims, as well as other assets of the Flying Nickel Mining Corporation, which it said leaders, will result in a direct benefit to Manitoba First Nations.

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“For too long, the people closest to the resources have received little to no benefit,” Chief Larson Anderson said in a press release on mining development titled The Minago Project. “Norway House strives to create a model that protects the environment while creating wealth and a better future.”

Chief Anderson said the historic agreement will protect the environment and create new jobs in Manitoba as nickel development uses hydroelectric power to meet growing demand for the mineral.

The provincial government also praised Norwegian House for its work, saying the First Nation is helping grow Manitoba’s low-carbon economy.

“This Indigenous-led model will protect the environment, create good jobs for Manitoba’s First Nations and contribute to the world’s energy needs into the future,” Jamie Moses, Manitoba’s Minister of Natural Resources, said in the release.

The project will be located about 450 kilometers north of Winnipeg and leaders say it will represent a multibillion-dollar development in the fight against climate change.