First Nations Considering Buying A Stake In Trans Mountain

Kamloops/Fraser Valley – A story that broke earlier this week in Kamloops may have implications down the road.

A Kamloops radio station reported that some 30 First Nations have expressed interest in buying a majority interest in the Trans Mountain pipeline expansion.

Mike Lebourdais, the Chief of the Whispering Pines Indian Band was quoted as saying First Nations from British Columbia and Alberta have expressed an interest in purchasing 51 per cent of the Trans Mountain pipeline expansion.

That could come with a $2.5 billion dollar price tag.

The presentation was made to the Tk’emlúps band council.

A possible business model could be ready by years end. The deadline for Ottawa to flip their ownership back into the hands of the private sector, came and went on July 22.

This comes as the AFN – Assembly of First Nations meets to elected a new Grand Chief.

Sto:lo elder with Cheam First Nation and policy advisor to Sto:lo Tribal Council Ernie Crey would not comment on this story.

Metis Business Leader with Sto:lo and Chilliwack City Councilor Candidate Louis De Jaeger told FVN: Sovereign Nations have the right to express and invest in projects that they see suits the economic interests of their Nations. Any comments pertaining to any particular project of a First Nation must be asked and answered by them, not me. I support economic sustainability of First Nations and encourage investment in Federal, Provincial and municipal economic projects that result in the prosperity of all.

Squiala Chief Dave Jimmie did not return FVN’s request for a comment.

 

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