Latest news with #DavidJimmie
The Province
16-05-2025
- Business
- The Province
Enbridge pipeline: Chair of First Nation group driven by vision of getting 'true seat at the table'
Squiala First Nation Chief David Jimmie is a pro-business leader who looks on deals as the entry point for meeting community needs. Chief David Jimmie. Jimmie is CEO of the Stonlasec8 Indigenous Alliance Limited Partnership, which struck a deal with Enbridge to invest $715 million for a 12.5 per cent stake in its Westcoast natural gas pipeline system. Photo by Victor Yuen, Velour Productions Squiala First Nation Chief David Jimmie has always looked at business dealings as a way to get 'a true seat at the table' to address his community's interests and look after its needs. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. 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Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors So Jimmie was intrigued when Enbridge Inc., two years ago, broached the prospect of selling an equity interest in its sprawling Westcoast gas pipeline network to First Nations whose territories were close to the facility. 'We had some initial meetings with Enbridge to understand what the opportunity might look like,' Jimmie said Thursday. 'And then it was a matter of Nations interested in pursuing this.' After reflection and their respective decisions, the answer for 36 Nations was yes. Thursday, the consortium they formed under the name Stonlasec8 Indigenous Alliance unveiled the $715 million agreement struck with Enbridge to buy a 12.5 per cent stake in 2,900-km pipeline network. The deal is subject to the completion of financing, which includes a $400 million federal loan guarantee, but is expected to close by the end of June and deliver continuing economic benefits to the consortium over the next 65 years. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'People often ask me what economic reconciliation for Indigenous people looks like,' Jimmie said. 'This is it.' Jimmie has been a proponent of economic reconciliation since becoming chief of the Squiala in 2009 after building a successful construction company from scratch. He still heads the firm that is partnered in projects in Chilliwack and the Okanagan's Westbank. 'I'm a pro business individual, I'd like to say,' Jimmie said. 'And when we can advance business to generate revenues for communities, I think we grow stronger collectively.' Early on, Jimmie pursued an MBA at Simon Fraser University, as well as certificate courses at the University of B.C. and Harvard to help bridge his school of hard knocks with more formal business education to start providing his community with the expertise for which they'd typically rely on consultants. This advertisement has not loaded yet, but your article continues below. 'I don't think you walk out of a masters program feeling like a master,' Jimmie said. An MBA does, however, teach you to 'peel apart different business models,' and apply them to what you need. For the Squiala, that has meant working in everything from forestry operations to pursuing run-of-river hydro power, and a recent small joint venture with the Agassiz-based specialty sawmill PowerWood. PowerWood CEO Jake Power describes Jimmie as a savvy business person who does a good job of representing his community's needs. 'He approaches it from really good, strong business principles,' Power said, adding that Jimmie holds the values that his community shares, and for which they are all proud. 'He's also just a nice person,' Power added. 'Sometimes you're in a room negotiating with someone and it really feels like a negotiation where you've got to watch your back. It just never feels that way with Dave.' This advertisement has not loaded yet, but your article continues below. If problems crop up, Power said, 'you just always have a lot of confidence that you can speak openly' with Jimmie. Power said he's not surprised at the news of the Stonlasec8 deal. 'I think having someone like Dave at the middle of it will always help smooth talks along because people feel pretty comfortable having open conversation in any room that he's in.' Jimmie said leaders have to separate businesses themselves from community governance. 'You kind of work with the community to understand exactly what it is that we'd like to address,' Jimmie said. 'Then you kind of take the business approach to say, 'OK, can we generate the revenues to support that and not be dependent on government funding?'' There are also other irons in the fire for the Squiala. Among the positions Jimmie holds, which include president of the Stó:lō Nation Chiefs Council and president of Ts'elxweyéqw Tribe Management Ltd, he is also chair and vice-president of the Western Indigenous Pipeline Group. This advertisement has not loaded yet, but your article continues below. That is one of the consortiums seeking an equity stake in the Trans Mountain Pipeline project, which Jimmie joined after years of opposing the project. In 2023, he told the Globe and Mail that becoming an owner would be the best way for the Squiala to get the oversight over the project it failed to get through legal challenges. Jimmie said Thursday he's hopeful about the outcome of the process for determining Indigenous equity in that project. 'I do believe that leading by example is great for our members to see,' Jimmie said. 'I think the younger generation is seeing more of our Indigenous people with post-secondary degrees, graduate degrees, becoming lawyers in the business field.' 'I think (my) philosophy is 'why don't we get out and do what we can to support our communities and foster the ability for this next generation to take it to another level,' Jimmie said. depenner@ With files from The Canadian Press Read More Vancouver Canucks Vancouver Canucks BC Lions News News
National Observer
16-05-2025
- Business
- National Observer
A 'foot in the door': BC First Nations buy into Enbridge pipeline
For decades, a natural gas pipeline has cut through the territories of dozens of First Nations in BC — moving billions of dollars' worth of gas with zero ownership and little return to the communities. Now, 36 First Nations have bought in. 'For decades, the nations have watched resources leave their communities with very minimal benefit,' said Justin Napoleon, from Saulteau First Nation and director of Stonlasec8, a newly formed, Indigenous-owned, limited partnership made up of 36 First Nations in BC, including Treaty 8 members. In a landmark deal announced today, Stonlasec8 revealed its plan to invest approximately $715 million to acquire a 12.5 per cent ownership in Enbridge Inc.'s Westcoast natural gas pipeline system that stretches from BC's remote northeast to the US-Canada border. 'Now, they get to see development in a new light — as something they actually own, a piece that's truly part of theirs," Napoleon said. The deal gives Indigenous communities along the pipeline a direct financial stake in infrastructure on their traditional lands. 'Enbridge brought the opportunity to us,' said David Jimmie, chief of Squiala First Nation and president and chair of Stonlasec8. 'I think it signals through industry, and across the country, that these partnerships can be successful — and they can be done.' 'Enbridge brought the opportunity to us,' said David Jimmie, president and chair of Stonlasec8. 'I think it signals through industry, and across the country, that these partnerships can be successful — and they can be done.' A significant step was securing a $400-million loan guarantee from the federal government through an initiative launched in December 2024. This makes the Stonlasec8 investment the first major project supported by the $10-billion federal Indigenous Loan Guarantee Program. The government program 'opens up doors for the nations to access capital and take that step towards economic self-determination,' Napoleon said. The Westcoast pipeline transports up to 3.6 billion cubic feet of natural gas daily along a 2,900-kilometre route, supplying BC, Alberta, and the US Pacific Northwest. Through this partnership, Indigenous communities shift from stakeholders to shareholders, gaining a role in co-governing infrastructure on their lands, Jimmie said. The financial returns from the Westcoast pipeline are slated to be distributed equally among the First Nations in the Stonlasec8 consortium. Each nation will then decide how those funds will be invested in their communities. 'My hope is it's predictable, long-term, recurring revenue that you can plan around ... You can build that into your community planning as needed, and it's a reliable source of income,' Napoleon said. A step forward, with limits Historically, BC First Nations have faced major financial barriers to resource project ownership. A decade ago, 16 nations in BC were denied a commercial-rate loan for the Pacific Trail Pipeline and settled for a buyout instead of equity. To Indigenous leaders, this new agreement signals progress, but also exposes the complexities of participation in resource development. They acknowledge the tension: financial participation brings opportunity, but also binds nations to the risks and responsibilities of fossil fuel infrastructure. While Stonlasec8's 12.5 per cent stake marks a significant shift from previous exclusion, it does not translate to a controlling voice on how the pipeline is run or how environmental risks are managed. 'We don't have that power. At 12.5 per cent interest, you're not going to be a major decision-maker in this — but it gets your foot in the door, and you're able to have the conversation, which we couldn't do before,' Jimmie said. Jimmie said Enbridge and other companies must still adhere to regulatory processes, engage with First Nations, and share environmental assessment findings. 'We still do wear the other hat as rights- and title-holders in the territory,' he said. John Desjarlais, executive director of the Indigenous Resource Network, an organization that advocates for Indigenous participation and leadership in resource development, said he is thrilled about the partnership. 'There's a lot of good components that could mobilize a good, meaningful development, and shape the policy that we're going to see into the future,' Desjarlais said. But he warns that these are not mere stakeholder roles but business partnerships, separate from government obligations of consent or consultation — which means the legal and financial risks rest heavily on the Indigenous partners. 'It's interesting — we talk about oil spills, but now we'd be talking about a nation spilling oil on its own nation, or other nations … affecting its rights and other rights,' Desjarlais said. He said Indigenous nations will need to prepare for the possibility of managing crises that affect their own lands and neighbouring rights, in addition to ongoing community challenges, including housing, education and mental health crises. Jimmie said discussions around potentially growing Stonlasec8's stake hadn't occurred — but if there's an opportunity, First Nations would be open to it.
Vancouver Sun
16-05-2025
- Business
- Vancouver Sun
Enbridge pipeline: Chair of First Nation group driven by vision of getting 'true seat at the table'
Squiala First Nation Chief David Jimmie has always looked at business dealings as a way to get 'a true seat at the table' to address his community's interests and look after its needs. So Jimmie was intrigued when Enbridge Inc., two years ago, broached the prospect of selling an equity interest in its sprawling Westcoast gas pipeline network to First Nations whose territories were close to the facility. 'We had some initial meetings with Enbridge to understand what the opportunity might look like,' Jimmie said Thursday. 'And then it was a matter of Nations interested in pursuing this.' Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. After reflection and their respective decisions, the answer for 36 Nations was yes. Thursday, the consortium they formed under the name Stonlasec8 Indigenous Alliance unveiled the $715 million agreement struck with Enbridge to buy a 12.5 per cent stake in 2,900-km pipeline network. The deal is subject to the completion of financing, which includes a $400 million federal loan guarantee, but is expected to close by the end of June and deliver continuing economic benefits to the consortium over the next 65 years. 'People often ask me what economic reconciliation for Indigenous people looks like,' Jimmie said. 'This is it.' Jimmie has been a proponent of economic reconciliation since becoming chief of the Squiala in 2009 after building a successful construction company from scratch. He still heads the firm that is partnered in projects in Chilliwack and the Okanagan's Westbank. 'I'm a pro business individual, I'd like to say,' Jimmie said. 'And when we can advance business to generate revenues for communities, I think we grow stronger collectively.' Early on, Jimmie pursued an MBA at Simon Fraser University, as well as certificate courses at the University of B.C. and Harvard to help bridge his school of hard knocks with more formal business education to start providing his community with the expertise for which they'd typically rely on consultants. 'I don't think you walk out of a masters program feeling like a master,' Jimmie said. An MBA does, however, teach you to 'peel apart different business models,' and apply them to what you need. For the Squiala, that has meant working in everything from forestry operations to pursuing run-of-river hydro power, and a recent small joint venture with the Agassiz-based specialty sawmill PowerWood. PowerWood CEO Jake Power describes Jimmie as a savvy business person who does a good job of representing his community's needs. 'He approaches it from really good, strong business principles,' Power said, adding that Jimmie holds the values that his community shares, and for which they are all proud. 'He's also just a nice person,' Power added. 'Sometimes you're in a room negotiating with someone and it really feels like a negotiation where you've got to watch your back. It just never feels that way with Dave.' If problems crop up, Power said, 'you just always have a lot of confidence that you can speak openly' with Jimmie. Power said he's not surprised at the news of the Stonlasec8 deal. 'I think having someone like Dave at the middle of it will always help smooth talks along because people feel pretty comfortable having open conversation in any room that he's in.' Jimmie said leaders have to separate businesses themselves from community governance. 'You kind of work with the community to understand exactly what it is that we'd like to address,' Jimmie said. 'Then you kind of take the business approach to say, 'OK, can we generate the revenues to support that and not be dependent on government funding?'' There are also other irons in the fire for the Squiala. Among the positions Jimmie holds, which include president of the Stó:lō Nation Chiefs Council and president of Ts'elxweyéqw Tribe Management Ltd, he is also chair and vice-president of the Western Indigenous Pipeline Group. That is one of the consortiums seeking an equity stake in the Trans Mountain Pipeline project, which Jimmie joined after years of opposing the project. In 2023, he told the Globe and Mail that becoming an owner would be the best way for the Squiala to get the oversight over the project it failed to get through legal challenges. Jimmie said Thursday he's hopeful about the outcome of the process for determining Indigenous equity in that project. 'I do believe that leading by example is great for our members to see,' Jimmie said. 'I think the younger generation is seeing more of our Indigenous people with post-secondary degrees, graduate degrees, becoming lawyers in the business field.' 'I think (my) philosophy is 'why don't we get out and do what we can to support our communities and foster the ability for this next generation to take it to another level,' Jimmie said. depenner@ With files from The Canadian Press
Global News
15-05-2025
- Business
- Global News
Enbridge sells stake in Westcoast pipeline to First Nations group
Calgary based Enbridge Inc. has signed a deal to sell a minority stake in its Westcoast natural gas pipeline system to a group of 36 First Nations in B.C. Under the agreement, the Stonlasec8 Indigenous Alliance Limited Partnership will invest $715 million for a 12.5 per cent stake in the system. The Westcoast natural gas pipeline system is extends more than 2,900 kilometres from Fort Nelson in northeast B.C. and from Gordondale near the B.C.- Alberta border, south to the Canada -U.S. border. Chief David Jimmie, president and chair of Stonlasec8 and chief of Squiala First Nation, called the deal a significant milestone. 'Enbridge's Westcoast pipeline system is a legacy asset that has operated within our traditional territories for over 65 years,' Jimmie said in statement. 'Now, our Nations will receive sustained economic benefits from this asset, funding critical investments in housing, infrastructure, environmental stewardship, and cultural preservation. People often ask what economic reconciliation for Indigenous Peoples looks like. This is it.' Story continues below advertisement View image in full screen The Westcoast natural gas pipeline system extends more than 2,900 km from the northern B.C.- Alberta border, south to the Canada-U.S. border. Enbridge Inc. Enbridge chief executive Greg Ebel said the agreement is one of several such deals the company has undertaken in the last several years as it explores additional opportunities for Indigenous partnerships. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Enbridge's commitment to advance Indigenous ownership opportunities related to our existing and growing energy assets underlines our efforts to be the first choice partner for the communities we serve,' Ebel said in a statement. The First Nations partnership has reached an agreement with Canada Indigenous Loan Guarantee Corp., a subsidiary of Canada Development Investment Corp., to secure a $400-million loan guarantee to enable the deal. The transaction is expected to close by the end of the second quarter of 2025, subject to financing and other conditions. Last year, Enbridge Inc. and Six Nations Energy Development LP announced plans to develop a massive wind energy project in southeast Saskatchewan. Story continues below advertisement The Seven Stars Energy Project, located near Weyburn, is slated to produce 200 megawatts of clean electricity, enough to fuel more than 100,000 homes for a year.
Ottawa Citizen
15-05-2025
- Business
- Ottawa Citizen
Enbridge sells stake in Westcoast pipeline to B.C. First Nations group
CALGARY — Enbridge Inc. has signed a deal to sell a minority stake in its Westcoast natural gas pipeline system to a group of 36 First Nations in B.C. Article content Article content Under the agreement, the Stonlasec8 Indigenous Alliance Limited Partnership will invest $715 million for a 12.5 per cent stake in the system. Article content The Westcoast natural gas pipeline system is extends more than 2,900 kilometres from Fort Nelson in northeast B.C. and from Gordondale near the B.C.- Alberta border, south to the Canada -U. S. border. Article content Article content Chief David Jimmie, president and chair of Stonlasec8 and chief of Squiala First Nation, called the deal a significant milestone. Article content Article content 'Enbridge's Westcoast pipeline system is a legacy asset that has operated within our traditional territories for over 65 years,' Jimmie said in statement. Article content 'Now, our Nations will receive sustained economic benefits from this asset, funding critical investments in housing, infrastructure, environmental stewardship, and cultural preservation. People often ask what economic reconciliation for Indigenous Peoples looks like. This is it.' Article content Enbridge chief executive Greg Ebel said the agreement is one of several such deals the company has undertaken in the last several years as it explores additional opportunities for Indigenous partnerships. Article content 'Enbridge's commitment to advance Indigenous ownership opportunities related to our existing and growing energy assets underlines our efforts to be the first choice partner for the communities we serve,' Ebel said in a statement. Article content Article content The First Nations partnership has reached an agreement with Canada Indigenous Loan Guarantee Corp., a subsidiary of Canada Development Investment Corp., to secure a $400-million loan guarantee to enable the deal. Article content Article content The transaction is expected to close by the end of the second quarter of 2025, subject to financing and other conditions. Article content Article content
