Muskowekwan Chief Reginald Bellerose. Photo courtesy of Manfred Joehnck.
Despite a world oversupply and extremely low prices for potash, a three billion dollar mine on the Muskowekwan First Nation northeast of Regina is still a go.
Today, the chief of the reserve and the president of Encanto Potash provided the media with an update after a recent trade mission to India.
This project is the first of its kind in Canada involving resource development and ownership on a First Nation. It has been complicated and time consuming according to the partners.
Encanto and Muskowekwan have been working on the deal for six years, and it will still take a number of years to complete.
They are still in the feasibility phase of the mine. Chief Reginald Bellerose says in the end its about providing First Nations with hope and opportunity.
“This is what I have been busting my butt for,” he said. “It’s for people not to be living on $255.00 a month — who wants to live on this? That is the most important thing.”
Encanto President, Stavros Daskos says the trip to India was aimed at establishing contacts and developing long-term customers. He says the market is at a low, but the long-term looks good. He is determined to see the project through.
“I can’t guarantee God’s results, but when I say I’m going to do something, I do it, and I always do.” he said. “There are going to be challenges. It’s going to be a very, very rough ride — I guarantee you, but we are doing this.”
FSIN Chief Bobby Cameron also attended the Regina news conference. He congratulated the partners on putting together a ground breaking deal that could pave the way for similar deals in oil, uranium and other industries on First Nations lands.