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Indigenous Economy Powering Canada’s Energy Transition (Small Modular Reactors) 

Indigenous Economy Powering Canada’s Energy Transition (Small Modular Reactors) 

  • SIIFC
  • Lac La Ronge Indian Band

Overview

Indigenous participation in resource projects has been a pathway to long-term economic sovereignty and skilled job creation. By leveraging wealth generated in part by participating in the resource economy, Indigenous communities and businesses are diversifying into industries such as manufacturing, infrastructure, renewable energy, technology, and engineering. The Saskatchewan Indigenous Investment Finance Corporation (SIIFC) builds on this legacy by providing loan guarantees that enable Indigenous equity participation in major resource and energy projects, from uranium and potash mining to next-generation Small Modular Reactors (SMRs) and micro-reactors, ensuring Indigenous leadership in Canada’s energy transition. 

Change Makers – English River First Nation & Denison Mines leading together in Northern Saskatchewan, Canada

 Rewriting the Future of Uranium Mining Through Indigenous Equity and Technical Innovation

Overview

Denison Mines Corp. is advancing the Wheeler River Project, the largest undeveloped uranium project in the eastern Athabasca Basin, Saskatchewan, Canada. Comprising two high-grade uranium deposits, Phoenix and Gryphon, the project stands as a pioneering case in balancing technical innovation, financial robustness, and Indigenous partnership.
 
A Shared Prosperity Agreement (SPA) with English River First Nation (ERFN) underpins the project, securing social licence and increasing certainty for its development. This Agreement, coupled with in-situ recovery (ISR) mining at Phoenix, positions Wheeler River as a benchmark for sustainable and commercially competitive uranium production.
 
ERFN’s business development efforts are led by the Des Nëdhë Group of Companies (Des Nëdhë), which has direct or indirect investments in 23 companies with annual revenue of over $100M Canadian. ERFN and Des Nëdhë have become leaders when working with industry, through both their lands and resources department, and Des Nedhe.  Impressively, ERFN’s vision for sustainable economic development within their Ancestral Lands and strong advocacy for the protection of the environment and the Nation’s interests has been consistently applied over a period of nearly 50-years, representing the collective will of the people of ERFN.

Speakers

 

Chief Tammy Cook-Searson

Chief Tammy Cook-Searson

Chief of the Lac La Ronge Indian Band
Lac La Ronge Indian Band
Matt Smith

Matt Smith

CEO - Saskatchewan Indigenous Investment Finance Corporation

Métis Nation-Saskatchewan

Matthew Vermette

Matthew Vermette

Chief Operating Officer - Métis Nation-Saskatchewan
Métis Nation
Sheldon Wuttunee

Sheldon M. Wuttunee

President/CEO - Saskatchewan First Nations Natural Resource Centre of Excellence
Red Pheasant Cree First Nation

Key Themes

Small Modular Reactors (SMRs) and Future Energy

As Saskatchewan positions itself at the forefront of clean energy innovation, SIIFC will help facilitate Indigenous equity in next-generation energy projects, including Small Modular Reactors (SMRs) and micro-reactors. This ensures Indigenous capital is embedded in the province’s future energy landscape, aligning economic progress with the global transition to low-carbon solutions. Indigenous ownership in SMR projects has the potential to generate long-term returns while advancing Canada’s clean energy ambitions. Opportunities to participate in the emerging SMR and micro-reactor space will present a unique opportunity to enter a sector at its infancy, a first in Canada. 

Natural Resources: Energy and Mining

First Nations and Métis peoples and businesses have played a foundational role in Saskatchewan’s resource economy, securing long-term partnerships and ownership stakes in key industries. SIIFC supports these efforts by enabling Indigenous groups to gain equity in sectors such as uranium, potash, critical minerals, forestry, renewable energy, and oil & gas, strengthening economic resilience and expanding investment opportunities. This alignment ensures Indigenous governments, communities and businesses continue to influence resource management and environmental stewardship, while investors benefit from stable, long-term partnerships that can help advance projects and drive sustainable growth. 

Policy Innovation

SIIFC represents a landmark shift in government policy, offering loan guarantees to Indigenous communities to facilitate equity investments in large-scale projects. This innovative approach fosters Indigenous economic empowerment and creates a replicable blueprint for other jurisdictions seeking to promote Indigenous ownership in natural resource development.

Labour and Workforce Impact

Indigenous participation in resource projects has been instrumental in fostering skilled job creation and advancing long-term economic sovereignty. Equity participation translates into more than just financial returns. SIIFC-backed projects have opened pathways to sustainable employment, workforce development, capacity-building for Indigenous workers and seats at Board tables. These initiatives directly contribute to long-term economic independence, ensuring Indigenous peoples are active participants in Saskatchewan’s resource economy. 

Indigenous Equity Partnerships

The SIIFC model provides Indigenous communities and governments a mechanism to facilitate equity ownership in addition to traditional Impact Benefit Agreements (IBAs). Indigenous communities and governments are no longer passive beneficiaries but active partners in resource ventures. This transition fosters wealth creation, enhances decision-making influence, and strengthens community resilience. 

Why It Matters to Investors and Partners

Indigenous capital is a driver of long-term economic growth, fostering business resilience and supporting regulatory stability in resource and energy investments. These partnerships provide investors with a strategic advantage, ensuring alignment with government priorities and unlocking new opportunities in high-growth sectors. 

Strengthening Project Stability for Long-Term Returns
Indigenous equity partnerships reduce social and political risks, securing local support and ensuring project continuity, which is vital for large-scale energy and resource investments. 
Access to Capital and Competitive Advantage
Institutional investors are increasingly prioritising projects that integrate Indigenous ownership, leading to stronger regulatory backing and improved access to capital.
Replicable Model for Market Expansion
The SIIFC approach demonstrates how innovative financial tools can unlock Indigenous capital, presenting scalable opportunities across Canada’s resource and energy markets.
Strategic Growth Opportunities

Indigenous-backed resource and energy projects ensure long-term operational stability, creating investment environments with lower volatility and higher resilience.

Cedar LNG: One of the largest Indigenous-Infrastruture Projects in Canada. Source: Canadian Energy Centre & Mining.com
Energy Projects with Indigenous Equity in Canada. Source: Fasken
Distribution of Canadian Energy Projects. Source: Fasken
SIIFC is more than a financing tool—it is a catalyst for Indigenous economic self-determination. By enabling ownership in the industries shaping Saskatchewan’s future, SIIFC fosters a more inclusive, resilient, and prosperous economy. This case study will explore the evolution of this policy, its impact on Indigenous communities, and its potential to inspire similar initiatives across Canada and beyond. 
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