Published by Senator Robert Peterson on 06 April 2009
Over the past few weeks a very progressive initiative has been launched to assist the Aboriginal community on the Prairies.
Sprott Resource Corporation, an investment firm based in Toronto, has partnered with seventeen bands in Saskatchewan to form One Earth Farms – a project that will form one of the largest farm enterprises in the country. The first phase is comprised of approximately 50,000 acres.
It has been founded through an investment of $27 million by Sprott Resources. Aboriginal lands will be leased at fair market value and in turn the Bands will be provided an equity stake in the new entity. The initiative will focus on sustainable and environmentally responsible use of the lands and will pay special attention to hiring and training aboriginals which will provide opportunity and increase revenues amongst the First Nations. In fact Eric Sprott, the Chairman of Sprott Resources, is putting up $1 million to establish a scholarship fund at the University of Saskatchewan so that aboriginal students will be able to study agricultural practices. This will ensure that there are pools of qualified Aboriginal farmers to fuel the One Earth Farms employment needs for years to come.
This concept of shared ownership with Aboriginal Bands, paying fair market prices for the use of the lands and its sustainable use is a welcome change from the past.
This initiative marks a big step for our Aboriginal population who will now be a major player in our nation’s $40 billion farming industry.
I salute Sprott Resources for taking this initiative and wish the partners all the best in their future endeavours.