Rio Tinto Improves its Alcan Realty Limited Leases in Collaboration with the Community

For several months now, Rio Tinto has been working to update its approach to renewing the leases on Alcan Realty Limited lands through a working committee that includes representatives of Riverains Lac Saint-Jean 2000 and Un Lac pour tous.

In collaboration with these stakeholders, significant improvements were made to the leases to provide greater clarity, predictability, and security for tenants. The leases have an eight-year term and now include an option to renew for another eight years. Rental costs will not increase. For over 30 years, these costs have been limited to the payment of taxes for the use of the land under lease.

Sabrina Tremblay, Director of Real Estate, the Programme de stabilisation des berges du lac Saint-Jean and Relations with First Nations at Rio Tinto, said, “We are proud to provide the community with new leases that address their concerns and fit within our management framework and legal and operational constraints. We commend the close collaboration and constructive and serious conversations with Riverains Lac Saint-Jean 2000 and Un lac pour tous.”

Luc Simard, President of Un lac pour tous and Warden of the Maria-Chapdelaine regional county municipality, said, “The discussions that led to the modernisation of our vacationers’ leases within the framework of the Lac Saint-Jean Sustainable Management Board reveal the value of this consultation platform, which was set up to discuss issues that are important to the community and Rio Tinto. We are proud of what this exercise has achieved and will continue to advocate for the interests of our stakeholders, be they vacationers, fishermen, boaters, or any other user of this magnificent body of water.”

Laurent-Paul Chartier, President of Riverains Lac Saint-Jean 2000, added, “Riverains Lac Saint-Jean 2000 is pleased with what has been achieved. Among other things, the changes will provide security for tenants and significantly improve funding opportunities. It is important to work together to find solutions to needs and concerns.”

Alcan Realty Limited’s lease renewal process will take place over five years, from 2022 to 2027, going sector by sector, beginning with Saint-Gédéon. In the coming days, tenants will receive more details on the process and changes.