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Potash contract discussed with India

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Compiled by Shari Narine







The Muskowekwan First Nation is in talks to sell potash to the government of India. The First Nation sits on 25,000 hectares of land where mines are already being operated by fertilizer producers. Owning the land could make it easier for the First Nation to build the mine and give them an advantage over other entrepreneurs hoping to get into the fertilizer business as demand increases from growing economies in Asia. However, Muskowekwan First Nation must secure $3 billion in financing before the project can proceed. “Investor confidence is already fragile on reserves because of the unknowns, the political instability. So we’ve got to communicate that it is not a free-for-all on First Nations,” Chief Reginald Bellerose told the Globe and Mail. Bellerose said the mine is projected to produce about 2.8 million tonnes of potash annually over 70 years.