The board of trustees said they didn't believe in divesting from the fossil fuel industry until there are competitive and readily available alternatives.
While the province says the proposed ruling will cut red tape, environmental groups claim it doesn't do enough to prevent mining on privately protected lands.
NWR warned that unless the government and creditors agree on the firm's restructuring by Friday, it would have to consider filing for insolvency of OKD.
Mick Davis's private equity firm not on shortlist featuring Vale, Mosaic and Eurochem for $1.5 billion phosphate and niobium operations in South America.