Encanto Potash Corp V.EPO.H

Excerpt from article RetiringYoung requested in January 2019

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RetiringYoung (24)

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January 31, 2019 - 12:12 PM

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Post# 29301667

Globe and Mail article mentions Encanto

Article is titled "It's time for governments to recognize the value of partnerships with First Nations" and specifically mentions Encanto and the Muskowekwan but you need to be a subscriber to the Globe to read it.

Can anyone read the article and post the contents here?

EXCERPT:
"Governments in Canada should better facilitate and perhaps even incentivize First Nations to enter into partnerships with companies, especially at the level of equity partnership. The Crown is legally required to enter into collaboration with First Nations that find their rights and land title affected by resource development. Typically, this leads to an impact and benefit agreement. However, if Indigenous communities or partners secure equity participation in a resource project, they can secure long-term revenue sources. Some First Nations are dissatisfied with deals that only create short-term construction jobs that eventually disappear once the project is built; equity participation gives them a greater ability to control their own destiny through a stake in the company’s future success.

Indigenous communities are already breaking new ground on resource deals. For example, just recently, CN Rail and Wapahki Energy Ltd. – a company owned by the 250-member Heart Lake First Nation in northern Alberta – were in discussions on a joint venture plan to create a $50-million facility to process bitumen into solid pucks by mixing it with recycled plastic. The pucks could be loaded onto rail cars, trucks or shipping containers and would float on water, making them safer to transport by sea. Some recent technology observers predicted the pucks could someday reduce the need for oil pipelines.

To take another example, an Indigenous community in Saskatchewan is planning a $3-billion potash mine on their reserve – which would make it the first ever mine built on a reserve. Toronto-based Encanto Potash Corp. signed a deal back in 2010 with Muskowekwan First Nation (a small Indigenous community located 140 kilometres northeast of Regina) to develop the project.

In 2017, the federal government passed a law under the First Nations Commercial and Industrial Development Act (FNCIDA) that applies provincial mining regulations on the project lands involved. This harmonization of rules for federal reserve lands with provincial regulations helps create better economic certainty for investors. Most recently, Encanto launched a strategic plan to have the project shovel-ready in the next few years."