Mistawasis First Nation enters partnership to acquire mining company
Mistawasis created an economic development branch known as Misty Ventures Inc. in 2011.
On Thursday, Misty Ventures alongside Hamilton Construction acquired the company Xtreme Mining and Demolition (XMD), which is an established mining contractor within the potash industry.
XMD was acquired after the previous owner died in a plane crash in late 2016.
“The announcement today shows the relationships that we have in the province and how we want to work together, and become united and be successful,” said Robert Daniels, the president and CEO of Misty Ventures.
A new construction group, HCC Group, was created to hold the XMD investment and other civil infrastructure and drilling exploration divisions.
“It was a fairly competitive process to buy the company. We competed with a number of other companies,” said Ken Hamilton, the president of HCC Group. “In this case, this is a true partnership.”
Originally, Misty Ventures created six companies, but now with the acquisition will be a part of 19 different companies.
“We’re not stuck to one industry. We’re in oil, gas, potash, real estate, agriculture. We have our hands in everything today,” said Daniels.
Daniels said the First Nation, located 120 kilometres north of Saskatoon, has seen lower unemployment rates since the start of Misty Ventures.
“It’s about independence, creating employment, job creation, wealth creation. We have the ability to improve the lifestyle in our community. Not only in our home community but around the province,” said Daniels.
“That’s what we’re in the business for, is to take it to the next level to support our community.”
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