A new helicopter service is closer to getting off the ground after a letter was signed Friday morning.

The potential joint venture between Matawa First Nations and Great Slave Helicopters would provide 55 helicopters for junior mining, hydro, forestry companies and anyone else needing service around Matawa territories, which includes the ring of fire.

Neskantaga First Nations Chief Roy Moonias, one of six Matawa chiefs to sign the letter of understanding, said the partnership would be the first of its kind for Matawa communities.

"It’s going to give us the opportunity to engage businesses especially what’s happening in Northwestern Ontario with the ring of fire," Moonias said. "It gives us very, very good business opportunities."

Matawa would control 51 per cent of the new company with Northwest Territories based Great Slave Helicopters holding the remaining 49 per cent. Along with a revenue sharing agreement, the company would provide scholarships and bursaries for pilot and aircraft maintenance engineering training programs for people in Matawa communities.

"This is something that my community has been waiting for a long time…we’ve been offered so many opportunities (in the past)," Moonias said. "This is something unique for my community."

Great Slave Helicopter’s Anthony Margarit said the communities will mainly be involved with marketing the company in the region when the yet-to-be named venture begins.

Margarit said temporary agreements are in place, helicopters are in the region and Matawa communities could start seeing benefits as early next week. The project, however, is only at the memorandum-of-understanding stages.

"We maintain the management, the maintenance, the marketing," said Margarit. "We’ll rely on our partners in the region a lot with marketing."

Moonias said the MOU can start the process for negotiations so that specifics for the venture can be figured out.

"At least I have something for my people, the young generation and the future of my generation as well," Moonias said. "Our people can take over in the future."

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