Misty Ventures takes partnership to Xtreme
- NC Raine | December 28, 2017
A Saskatchewan First Nation is partnering with a key player in the provincial mining industry to form a new group of companies.
Misty Ventures Inc., the economic development branch of Mistawasis Nêhiyawak Nation, have partnered with Hamilton Construction Corporation to acquire Xtreme Mining and Demolition Inc. (XMD) - an established mining contractor focused in the potash industry. The new construction group, HCC Group, was created to hold the investment in XMD with the group's civil infrastructure and drilling exploration divisions.
“We want to be involved at every sector,” said Robert Daniels, CEO and President of Mistry Ventures. “We felt this opportunity to enter into the mining industry and grow our portfolio was essential given our involvement in the construction sector.”
XMD was acquired in 2016 after the previous owner died in a plane crash. Misty Ventures also owns and operates several other companies that will support HCC contracts. Daniels said that with the new acquisition, Misty Ventures is now involved in uranium, potash, and gold, in addition to agriculture, mining, oil and gas, commercial and residential real estate, and retail.
“You name it, that's what we're into,” he says. “The announcement today shows the relationships that we have in the province and how we want to work together and become united and successful.”
With the acquisition, Misty Ventures now consists of 19 companies in their portfolio. The new venture will employ up to 350 employees between its mining, infrastructure, and drilling divisions.
Daniels says that 50 percent of employees on their last job, with BHP Billiton, were Indigenous, and that unemployment rates at Mistawasis First Nation have shrunk significantly since the development of Misty Ventures.
“Its about getting skilled labour out there. It's not just about getting our bands working, its about getting the province working. I think that's the key for us. We want to provide good skilled work,” said Daniels.
The success of the new partnership with HCC is one that both parties believe will be derived in part from shared values.
“We don't call them partnerships, we call them relationships,” said Daniels. “It's not just talking, it's making things happen. Anyone can create a partnership, but if you don't get any work its not very meaningful.”
HCC is currently involved in heavy civil construction and aggregate production for a wide range of infrastructure projects. The company has over a decade of experience operating in North America, Africa, and Asia.
“It was quite a competitive process to buy the company,” said Hamilton Construction President Ken Hamilton. “There are joint ventures, and there are partnerships where both parties don't have skin in the game. In this case, this is a true partnership.”