Media outlets worldwide are running stories about how Harper's decision compromises Canada's pro- international investment paradigm, that it's based on politics and that he's knucked under to prairie populism. Certainly, to some degree, Wall's opposition to the hostile takeover bid is based on popular sentiment throughout Saskatchewan as well as his honest assessment that it threatens Saskatchewan and Canada's future security. Potash is a mineral salt high in potassium, mined for use in agricultural fertilizers. Saskatchewan has 90% of the world's reserve and if/when food scarcity becomes the huge problem it looks like it will potash will become gold.
But, in my opinion, the big story is that the Saskatchewan-based Indigenous Potash Group now has found the door opened to their multibillion-dollar competing bid for Potash Corp. The First Nations group said it is collaborating with merchant banks, pension funds and Chinese investors to prepare their counter bid. The indigenous group has already raised $25 billion in the last two weeks from potential investors.
"We cannot be left out. We are moving on this," said Rick Gamble, who is chief of the Beardy's and Okemasis First Nation and spokesman for the Indigenous Potash Group. "This is exciting stuff. We're ready to go". Assembly of First Nations Chief Shawn Atleo addressed that assembly yesterday, and spoke to the importance of the potash debate saying, "It will be a benchmark for the whole country".
Here then is a great oppurtunity for our often alienated-overlooked indigenous brothers and sisters to regain some control over the land of their ancestors, to provide direction in the ongoing plunder of their [and Saskatchewan's] natural resources and to re-exhibit pride in their historic cultural heritage. Right On!
First Nations Plan Bid for PotashCorp
