According to a release, the SIIFC will offer loan guarantees to eligible First Nations and Métis communities and organizations to support investment in forestry, mining, oil and gas, energy production and value-added agriculture projects.
“Saskatchewan is fortunate to already have a number of successful Indigenous-led companies and organizations that are strong contributors to our province’s economic growth,” stated Trade and Export Development Minister Jeremy Harrison in a media release.
“The SIIFC will enable more Indigenous involvement in our key natural resource and agri-value sectors, which will create economic opportunities in Indigenous communities and right across Saskatchewan.”
A lack of access to capital was identified as the primary barrier to Indigenous equity ownership of natural resource and value-added agriculture projects and SIIFC will help to address this need by providing up to $75 million in loan guarantees for eligible projects where minimum loan guarantees will be $5 million.
The Federation of Sovereign Indigenous Nations (FSIN) stated that the SIIFC is a good start to providing support to First Nations to be leaders in energy development if they so desire. This legislation will allow heightened investment and collaborative partnerships between the Indigenous peoples and the province.
It’s something that FSIN is looking forward to.
“The First Nations are not against resource development, but rather, they support responsible and environmentally sound developments, and this legislation will allow us to work towards that end,” stated Vice Chief Heather Bear.
“When the First Nations benefit, the provincial economy does, too.”
The province stated that support for Indigenous resource development projects aligns with Saskatchewan’s Growth Plan goal to grow Indigenous participation in Saskatchewan’s natural resource sector.
1:58 Sask. Indigenous commerce group says recovery a ‘mixed bag’
Sask. Indigenous commerce group says recovery a ‘mixed bag’ – Jul 30, 2021
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
