The Tsawwassen First Nation and the Vancouver Port Authority in British Columbia have signed a settlement valued at $47 million.

The First Nation will receive $8 million in cash to settle its legal claims against the port. The band filed a "nuisance" suit concerning the port's operation and claims aboriginal title.

The First Nation will receive other considerations as part of the deal. These include a $10 million joint investment and management fund, contracting for tribal businesses and employment for tribal members.

Get the Story:
'Historic' deal signed (The Vancouver Province 11/11)
Port deal a breakthrough in aboriginal relations (CBC 11/10)
Band signs $47 million deal in exchange for port expansion near Vancouver (CP 11/10)
B.C. band, Port Authority sign historic deal (The Daily Globe and Mail 11/10)
Vancouver Port Authority and Tsawwassen First Nation sign memorandum of agreement (VPA 11/10)

Relevant Links:
Tsawwassen First Nation - http://www.tsawwassen-fn.org
Vancouver Port Authority - http://www.portvancouver.com