Indigenous Potash Group Still Ready To Invest

Indigenous Potash Group Still Ready To Invest

Wednesday, November 17, 2010 at 14:21

A First Nations-led investment group says it hasn’t given up hopes of getting involved in the potash sector.

It has been a week since the federal government rejected BHP Billiton’s hostile takeover bid of the Potash Corporation of Saskatchewan.

A group of five First Nations, who were putting together a rival bid of their own, were also shut out of the bidding.

However, Ken Thomas, the head of the Indigenous Potash Group, says they still have access to the $25 billion they initially raised for the failed bid.

He says they are currently seeing what potential opportunities are still out there.

Thomas adds that while the bid for PotashCorp may not have worked out, it did show the corporate community what kind of capital First Nations in the province are capable of raising.