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A First Nations group in Saskatchewan is in talks to sell potash to the Indian government, a move that would help vault the aboriginal group into the fertilizer industry and transform its economy.
The Muskowekwan First Nation sits on 25,000 hectares of land in the southeastern part of Saskatchewan where big North American fertilizer producers Potash Corp. of Saskatchewan Inc. and Mosaic Co. are already operating mines.
Owning the land could make it easier for the First Nation group to build the mine and give the aboriginal group an advantage over other entrepreneurs hoping to get into the fertilizer business as demand increases from growing economies in Asia.
“It’s not easy to find a project with one land owner,” said Reginald Bellerose, the chief for the Muskowekwan First Nation. But the group has some big hurdles to clear before the mine would become a reality. One is finding financing for the $3-billion project. Continue Reading →