Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The George Gordon First Nation is seeking $10 billion from the provincial and Canadian governments over potash and oil properties the Saskatchewan first nation says it is owed.
The properties in question include BHP Billiton’s Jansen potash project in which BHP has invested some $1.2 billion including half a billion in new spending announced in June. Also in play are large potassium deposits bordering the George Gordon reserve lands, which are majority-owned by Acron Joint Stock Company.
Postmedia News reports the native group is alleging “Canada and Saskatchewan improperly denied it access to billions of dollars worth of potash and oil and gas lands through misconduct by both levels of government throughout the George Gordon Treaty Land Entitlement Settlement Agreement process” entered into by all three parties in 2008:
“The general tenor of the lawsuit is that George Gordon First Nation, like many First Nations in Saskatchewan, are still owed land by Canada and Saskatchewan and before disposing of valuable oil and gas or potash lands to third parties . . . that there’s an obligation on the governments to find out from the First Nations whether they are interested in acquiring those lands first, which they did not do,” said Jeffrey R. W. Rath, an Alberta-based lawyer, who is representing the First Nation.
The province intends to dispute the action, the article states.
7 Comments
Amyhe
All properties is reserve.
Tgagnon
Like they would have done any of the developing with out going to these same governments for money.why do we even have treaties with these people if they are going to try to stop all progress.Do they really want to return to hunting and fishing to feed their famalies
rubberman
Too late. This underscores a shameful greed that there was no dispute at the time of the treaty but now that the crust has been geolically surveyed and there is mineral wealth, they want to dispute it. The proper course of action is to do your own survey before signing the treaty guys.
bddd
Didn’t they lose the war?
ALEX
lagelly canada belongs to first nations people, so first nations people suppose to be the biggest landlards in north america, if you ask me,
Samantha2240
no need to be racist guys (or rub their lack of power in their face). having said that, $10 billion while the economy is so fragile? not gonna happen
Deverell
Ignorance and arrogance is strong and alive in Canada