The interest that governments, indigenous groups and multinational corporations share in property and natural resources has often had devastating impacts on indigenous communities in North and South America. These communities have experienced dispossession dating back to the time the two continents were first colonized by Europeans. But in Canada domestic law respecting aboriginal rights places many aboriginal communities in a better position to ensure that a convergence of interest in property and natural resources works more in their favour than it has in the past. This law creates some incentives and establishes some structure for the negotiation of agreements that allow aboriginal groups to benefit from natural resource development projects on their traditional lands. Although negotiated arrangements are not a perfect approach to the resolution of conflicts arising from the use of traditional lands and resources, and are not even realistic or available options for all indigenous communities, they nevertheless bear review. It is informative to consider whether negotiated agreements can be used by indigenous groups living in the countries of Latin America. Indeed, various kinds of agreements are already sometimes negotiated between natural resource companies and governments in these countries that are supportive of local community interests. More often than not, however, indigenous concerns are not adequately addressed, or ignored altogether. A sound legal regime can place indigenous groups themselves in a position to engage in negotiations in their own right so that they can try to ensure that any agreements reached are fair and responsive to their interests. An important question to ask is: does the success of negotiations depend on the leverage that aboriginal groups have under Canadian law? Certainly, the capacity of indigenous groups in Latin America to "force" companies to negotiate with them about economic benefits will depend to a large extent on the applicable domestic law of the countries in which they live. A review of such law is well beyond the scope of this paper. However, emerging international legal principles respecting the rights of indigenous peoples may also be a useful source for arguments justifying the application of tools in Latin America that link natural resource development to economic benefits for affected indigenous peoples. Further, these emerging principles may assist governments in their efforts to understand and to fulfil legal obligations they may have towards indigenous peoples under their domestic legal systems. This paper begins with an outline of how and why negotiations are used in Canada to address issues respecting the utilization of the traditional lands and resources of aboriginal groups. Developments in the international law that is applicable in the regional Inter-American system respecting indigenous communal property are then examined to determine whether there is a rationale reinforced by international law for negotiated agreements. Negotiated agreements, when reinforced by legal principles defining and upholding the rights of indigenous peoples, can be a useful tool in efforts to resolve conflicts that arise in relation to natural resource extraction projects on traditional lands, and in efforts to promote sustainable development.