Kawacatoose takes control of its lands, resources
- EFN Staff | March 24, 2014
Kawacatoose First Nation has become the first community to take full control over its land and resource money. Chief Darin Poorman and Aboriginal Affairs and Northern Development Minister Bernard Valcourt joined in Regina to announce that Kawacatoose is the first community to opt into the First Nations Oil and Gas and Moneys Management Act and take full control over the management of its land and resource moneys.
"The Kawacatoose First Nation is looking forward to providing a brighter future for our people, particularly in terms of resource development and undertaking that in a respectful and environmentally sustainable way," said Chief Darin Poorman, Kawacatoose First Nation. "Now we can provide more economic opportunities and benefits to our members, as well as jobs in the future to sustain our First Nation in the long term. I'm proud to be a part of this, and I'm certain that what we're doing today will continue to benefit our members for many years to come."
Kawacatoose is working with North American Resource Partners, a private investment firm focused on providing capital for First Nations in North America to develop natural resource projects through assistance with the structuring and financing of projects.
"This is an historic day not only for Kawacatoose but for First Nations across Canada. Finally, First Nations will be able to make their own economic development policies based on their own governance systems. The Chief, Council and membership of Kawacatoose should be congratulated for their vision in taking this bold step," said John Jurrius, President and CEO of NARP.
Kawacatoose First Nation has over 3,000 members, over 1,100 of whom reside on the community's reserve located 120 kilometres north of Regina. The First Nation will now be able to explore economic opportunities for the community due to adopting the new Act. Prior, any money earned from mineral rights on First Nations land was held in trust by the federal government. The new legislation allows First Nations to opt out of this practice and to receive funds directly from natural resource development. The funds will be managed within a trust established by the First Nation for this purpose and administered by The Canada Trust Company.
"Our Government knows that the healthiest First Nation communities are also those dedicated to better self-sufficiency. Direct access to these band funds means more economic opportunities for Kawacatoose First Nation, and all First Nations that opt into this legislation," said Minister Valcourt. "Removing this Indian Act requirement means the First Nation can respond more quickly to community needs and opportunities."
"This is historic for our First Nation and will create many economic opportunities for our community, created by the community," said Poorman. "Partnering with NARP will allow us to fulfill these opportunities know that we ahve the financial resources available to proceed."