This image shows the Pickering Nuclear Generating Plant as seen from Lake Ontario. (ID 146384282 © Anjelagr/Dreamstime)

By Derek Cornet

energy investments

LLRIB economic arm to pursue small nuclear modular reactor investments

May 11, 2021 | 5:00 PM

Three First Nation economic organizations, including the Lac La Ronge Indian Band’s Kitsaki Management, have signed an agreement to jointly pursue small nuclear modular reactor investments.

“We just think we want to be part of this discussion and look at it as a strong business opportunity going forward,” said Sean Willy, the CEO of Des Nedhe Group, but who was also speaking on behalf of Athabasca Basin Development and Kitsaki. “Whenever they deploy these small modular reactors (SMR), wherever in Canada, hopefully the uranium they use comes from northern Saskatchewan.”

Willy explained now is an ideal time to sign a memorandum of understanding between the three groups because SMR development is being discussed by the provincial governments of Alberta, New Brunswick, Ontario and Saskatchewan. He noted it will be important First Nations, Métis and Inuit people be involved in those talks when the time comes.

“We think SMRs, if you are really serious about climate change, it’s got to be on the table,” Willy said. “We want to lend our voice to that conversation.”

Willy mentioned the three groups are well positioned for investments in SMRs considering the decades of experience they have serving the uranium industry. He said such developments can take approximately 10 years, but they have the knowledge and expertise to assist in the advancement of SMR deployment.

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Collectively, the three groups have partnerships with more than 40 Indigenous and non-Indigenous organizations across Canada.

“By signing this MOU, we plan to address key items for SMR investment, including research, due diligence, environment, communications and financing,” Kitsaki CEO Russell Roberts stated in a media release issued Tuesday. “We are very open to discussion with interested parties and excited to be part of this group to invest in and further advance Canadian SMR technology.”

Athabasca Basin Development is an investment company owned by Black Lake Ventures, Hatchet Lake Development, Fond du Lac First Nation, the Northern Hamlet of Stony Rapids, Northern Settlement of Wollaston Lake, Northern Settlement of Uranium City and the Northern Settlement of Camsell Portage.

Des Nedhe Group is the economic development organization of English River First Nation.

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derek.cornet@pattisonmedia.com

Twitter: @saskjourno