Toronto-based Osisko Mining has signed a memorandum of understanding with the Cree First Nation of Waswanipi for the transport of hydroelectric power to its Windfall gold project.

The CFNW will finance, construct, own, and operate a transmission line of 120 kilovolts which will provide hydroelectricity to the Windfall project, as well as the surrounding area.

The transmission line will provide hydroelectricity for an initial period of 18 years, with extensions over the life of the Windfall mill, Osisko said.

Using hydropower will reduce greenhouse gas emissions by reducing the mine's reliance on fossil fuels.

"The hydroelectric power transportation MOU is aligned with Osisko's vision for sustainable development of natural resources, and with the CFNW's vision of sustainable infrastructure within their traditional territory," Osisko chief executive John Burzynski said.

Osisko has consulted and worked with the CFNW since they acquired the Windfall gold deposit in August 2015, CFNW Chief Marcel Happyjack said.

"We are writing a new chapter in sustainable infrastructure development within the Eeyou Istchee/James Bay territory," he said.

The Windfall deposit contains 3.2 million ounces of measured and indicated gold resources averaging 10.5 g/t of gold.

Osisko has prioritised relationships with local First Nations communities in the James Bay region of Quebec. Approximately 19% of its workforce at Windfall are First Nations, and the company meets monthly with the Windfall Environmental Monitoring Committee with the CFNW.