(FMFN) is an Indigenous success story. Located alongside the Athabasca River, north of Fort McMurray in Alberta, the group has raised dwelling requirements for its members by income generated by First Nation-owned corporations.
In keeping with a 2020 FMFN monetary report, the group generates 97 per cent of their income from such corporations, with a median gross annual income of $1.7 billion over the course of 5 years.
The First Nation, which has 900 band members of Dene and Cree heritage dwelling on the reserve and overseas, has emerged as a frontrunner in Indigenous financial improvement. A 2018 Fraser Institute report attributed this success to “group capitalism.”
FMFN’s involvement within the oil sands trade started in 1986 with the institution of the Fort McKay Group of Firms, a 100 per cent First Nation-owned oil sands building and providers firm. The First Nation oversees twelve corporations by its wholly-owned holding firm, Fort McKay Touchdown LP.
FMFN has navigated environmental influence assessments, profit-sharing agreements, and session processes. “We place nice emphasis on making certain that we’re actively concerned within the decision-making course of, making certain our land and assets are protected for future generations,” mentioned FMFN Chief Raymond Powder.
Nationwide Put up spoke to Powder about how the First Nation strikes a steadiness between enterprise and tradition and the way they’ve used their income to develop their group’s financial system. This interview has been edited and condensed for readability and size.
How did FMFN first get entangled within the oil sands trade, and what have been the largest milestones?
FMFN was traditionally a trapping and fishing group. As these industries declined, we noticed the oil sands as a chance for transition and adaptation. Partnering with oil sands corporations allowed us to shift to a brand new financial base, and thru our involvement in extraction and refining operations, we created a gentle income stream. Our largest milestones embody the formation of the Fort McKay Group of Firms, which has turn into a cornerstone for our group’s financial self-sufficiency. Moreover, partnerships with corporations like Suncor and the East Tank Farm undertaking, a three way partnership with different Indigenous teams, have been integral in diversifying our financial base.
How do the revenues generated from the oil sands sector profit Fort McKay residents?
The revenues from oil sands operations by Fort McKay Group of Firms have been reinvested again into our group. We’ve constructed faculties, a wellness centre, and housing, enhancing dwelling situations and group providers. We additionally give attention to academic applications, employment coaching, and well being providers to supply our residents with the instruments and assets they should succeed. Our objective is to make sure that youth have entry to each profession alternatives within the oil sands sector and past.
How does FMFN make sure that younger folks have entry to training and profession alternatives?
We provide quite a few initiatives that join youth with training and profession alternatives. These embody commerce reveals, academic festivals and post-secondary assist applications. Whereas many group members work throughout the oil sands sector, we’re actively working to make sure that our youth have the abilities wanted to pursue careers exterior the trade as nicely. We’re dedicated to fostering academic success, which, in flip, helps the group’s progress and improvement.
What’s the long-term imaginative and prescient for financial self-sufficiency, particularly in mild of oil manufacturing being finite?
We’re targeted on financial diversification and long-term monetary sustainability. Via fairness partnerships, like Thebacha (a partnership that noticed FMFN and the Mikisew Cree First Nation purchase a 49 per cent fairness place in a Suncor facility north of Fort McMurray) now we have positioned ourselves to put money into ventures that may present long-term returns. This contains renewable vitality and different industries, permitting us to construct wealth that helps future generations. Our long-term technique additionally includes working intently with different Indigenous communities, resembling these within the Athabasca area, to deal with shared financial and environmental challenges.
How does Fort McKay steadiness financial alternative with environmental duty, particularly in relation to oil sands improvement?
At FMFN, balancing financial progress with environmental stewardship is significant. We work intently with oil sands corporations to make sure excessive environmental requirements and keep our personal inside monitoring techniques for higher transparency. We’re dedicated to minimizing the environmental influence whereas offering jobs and financial alternatives for our group. The important thing to our success has been making certain that financial advantages don’t come on the expense of the environment.
Are you able to clarify the importance of Moose Lake and the efforts to guard it?
Moose Lake holds deep cultural and religious significance for our group. It’s a sacred space the place we interact in conventional practices resembling looking and fishing. The realm is threatened by industrial encroachment, and now we have fought tirelessly to guard it. We’ve advocated for buffer zones and restrictions to make sure that Moose Lake stays pristine and that our future generations can proceed training their conventional methods of life. The lake symbolizes our combat for land rights, cultural preservation, and environmental stewardship.
What are the following steps in strengthening Fort McKay’s land rights?
We’re actively asserting our land rights and in search of better autonomy in governance. A part of this contains addressing historic land agreements and making certain that assets like oil sands are correctly factored into our treaty agreements. Strengthening our sovereignty is a key precedence, and we’re working to make sure that our rights over land and assets are acknowledged and revered by provincial and federal governments.
How does FMFN collaborate with different Indigenous communities within the area?
Collaboration is central to our financial technique. We work intently with neighbouring First Nations such because the Athabasca Chipewyan and Mikisew Cree to deal with shared financial, environmental, and political points. This contains joint ventures with oil sands corporations and collective efforts to guard our land and assets. By working collectively, we are able to make sure that all communities profit from regional improvement and share assets to maximise our bargaining energy.
Trying forward, what are the largest alternatives and challenges for Fort McKay First Nation within the subsequent 10-20 years?
The largest alternatives lie in diversifying our financial system, constructing long-term monetary sustainability, and persevering with to strengthen our sovereignty. Nonetheless, challenges resembling fluctuating international markets, useful resource dependency, and environmental issues stay. We’re targeted on overcoming these challenges by strategic investments, collaboration with different Indigenous communities, and continued funding in our folks and training. Our imaginative and prescient is to make sure that FMFN stays a self-sustaining, thriving group for future generations.
That is the newest in a Nationwide Put up sequence on How Canada Wins. Learn earlier instalments right here.
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