Fort McKay First Nation and Suncor Energy announced Thursday they’re partnering on a prospective oilsands lease development on the northeast corner of reserve lands.
Exploratory work will take place on Lease 174C, which is on Fort McKay reserve lands in the Regional Municipality of Wood Buffalo and respectively Fort McKay First Nation Traditional Territory.
Under the memorandum of understanding (MOU), Suncor is conducting “early stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable mineable ore,” the First Nation said in a news release.
“With this agreement, we are creating the conditions for sustainable prosperity, growth and health for our nation for generations to come, while leading the way on protecting our land and water,” Fort McKay First Nation Chief Raymond Powder said.
“We will bring our values of stewardship and care to this opportunity. In doing so, we are charting a new path for economic development on our lands.”
The agreement comes after decades of discussion, Powder said.
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“We are honoured to be working with Fort McKay First Nation,” said Peter Zebedee, Suncor’s executive vice-president. “Through this partnership, Fort McKay First Nation has the opportunity to govern oilsands activity on their land and fully participate and benefit from responsible resource development.
“This potential opportunity, which has synergies with Suncor’s existing operations, could provide Suncor with bitumen supply optionality post 2040.”
Both Suncor and Fort McKay First Nation thanked the federal and provincial governments and Wood Buffalo.
“Our people of Fort McKay First Nation have diligently worked hard for years as a collaborative and reliable partner,” Powder said. “This has resulted in building the nation for opportunities while securing future growth in our community.
“This is the true meaning of reconciliation. It puts in our hands the tools we need to bring prosperity and a sustainable future for our people,” the chief said.
As for timeline, drilling finished in December and early assessment work is still being done.
The partnership will wait to analyze what was found.
Chief Powder says the aim is for a 2036 opening date.
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