Waskaganish, February , 2002: Ted Moses, Grand Chief of the Grand Council of the Cree (Eeyou Istchee), and Quebec Premier Bernard Landry met in this James Bay Cree community to sign a 3.5-billion-dollar agreement.

The agreement calls for Quebec to pay the James Bay Cree 70 million dollars a year for the next 50 years, with an additional 23 million this year and 46 million in 2003-2004. In return the Cree will allow Hydro-Quebec's Eastmain/Rupert power project to go ahead. The Cree will also drop all pending lawsuits against the Province and its Hydro-Quebec Corporation.

Over 70% of James Bay Cree approved the deal in a referendum. An important factor was demographics: more than half of James Bay Cree are under 25. Since traditional lifestyles can no longer provide for all, new jobs are needed for young Cree to stay in the region. "This is the vision of a new nation to nation relationship based on the common desire of ensuring a flourishing Quebec and a flourishing Cree nation," said Moses. The Cree further agree that Quebec forestry regulations will apply on Cree land provided the Cree participate in their implementation and get a share of forest revenue and jobs.

"This agreement is made possible by establishing a new partnership between Quebec and the Cree based on dialogue, openness and mutual respect," said the Province's Premier. The Eastmain project will cost 4 billion dollars. It will flood 220 square kilometers of Cree territory to produce 1200 megawatts of power.

Hydro-Quebec started building dams in the region in 1971. It consistently failed to consult with the Cree. It also failed to determine the impact on the people of the area. The Cree have since had to deal with problems ranging from high levels of mercury in fish to disruptions to caribou migration patterns.

In 1986, Hydro-Quebec announced yet another dam project, this time on the Great Whale River. The Cree challenged Hydro in court and mobilized public opinion against the project. In 1994, the New York Power Authority cancelled a pending contract with Hydro-Quebec. The Great Whale project was shelved indefinitely.

This agreement calls for the Province, Hydro-Quebec and the Cree to work together to minimize the environmental impact of past and future development. Hydro further agrees to employ as many Cree as possible in the building of its dams and to create permanent Cree jobs within the corporation.