The federal government has reached a settlement with the Chippewas of the Thames First Nation over the Big Bear Creek settlement.
A special ceremony was held Monday to mark the conclusion of the outstanding specific land claim, which is the result of events nearly 200 years ago.
In the 1830s the British Government of Upper Canada sold reserve lands near Florence, Ont. that - according to the Longwoods Treaty talks several years earlier - were to have been set aside for the Chippewa Nation's exclusive use.
Aboriginal Affairs and Northern Development Minister Bernard Valcourt calls the settlmenet a major step forward on a path of renewal and reconciliation.
In a statement Valcourt said "Through negotiation, we have together found a win-win solution that not only delivers on past commitments but also opens up new economic opportunities for the First Nation and surrounding communities."
Under the settlement, Canada is providing the First Nation with nearly $120 million in compensation for past damages resulting from the claim and gives the Chippewa Nation the option to buy up to 5,120 acres of land they could then apply to have designated as a reserve.
Chief Joe Miskokomon of the Chippewas of the Thames First Nation hopes the agreement will be good for the future of their children.
He said in a statement "Chippewas of the Thames now has an opportunity to use this settlement to move forward past historical injustices and implement our solid economic and education strategies to revitalise our Nation and create a life of pride and prosperity for our people."
Since 2007, the federal government has negotiated agreements on more than 100 specific claims representing more than $2 billion.
