Photo credit: stewartworldport
STEWART – Portland Canal Holdings Limited Partnership, a strategic joint venture including two First Nations, has entered into a binding share purchase agreement to buy Stewart Bulk Terminals Limited that owns and operates the Port of Stewart Bulk Terminal.
Nisga’a Nation, Tahltan Nation Development Limited Partnership (TNDLP), and Arrow Transportation Systems Inc. have formed the partnership, and their acquisition is expected to close in the coming months.
The partnership is in the process of launching a new transportation business by consolidating two regional trucking operations: Arrow Transportation’s Stewart Trucking Division and Tahltan-Arrow Transportation Limited Partnership (a partnership between a subsidiary of Arrow Transportation and TNDLP) that delivers bulk transportation and logistics solutions within Tahltan Territory.
The joint venture will operate its Port of Stewart Bulk Terminal business through Portland Canal Terminal Limited Partnership, and its transportation business through Portland Canal Transportation Limited Partnership.
“Arrow is honoured to work with the Tahltan Nation and the Nisga’a Nation on this strategic venture,” states Tim Bell, Executive Vice President of the Arrow Group of Companies. “By consolidating the port terminal and our regional trucking operations, we are creating a vertically integrated supply chain that improves efficiency, enhances safety, and creates long-term, high-quality jobs for all employees.
“This project reflects our shared commitment to working with Indigenous communities as equal stakeholders, building capacity, advancing economic reconciliation and unlocking generational opportunities. We are proud to be part of this legacy investment in regional prosperity, one that will deliver lasting value and strengthen Northwestern British Columbia’s position in the global resource economy.”
Ownership of the strategic joint venture includes equal ownership for each partner in the port and transportation businesses, equal representation on the board of directors, and an equal right for each partner to the profits generated by both businesses.
The Port of Stewart’s Bulk Terminal is a deep-sea shipping terminal that is fully permitted and whose primary purpose is to facilitate the transportation of critical minerals, such as copper concentrate, from the region to market – including from Newmont’s Brucejack and Red Chris mines which are in the territories of the Nisga’a Nation and Tahltan Nation.
Northwest BC is home to more than 50% of the province’s exploration and mining sector. By strategically supporting the flow of critical minerals, the Nisga’a and Tahltan Nations are now positioned to optimize revenue generation, create new business opportunities, and further stimulate economic growth within their respective economies and the wider economies of BC, Canada, and beyond.
As part of its Northwest Strategy, the BC government has provided a $5 million grant to Tahltan and Nisga’a Nations to support the purchase of the Port of Stewart Bulk Terminal.
“The Nisga’a Nation is excited to be partnering with the Tahltan Nation Development Corporation and Arrow Transportation Systems Inc. to acquire Stewart Bulk Terminals and consolidate Arrow’s transportation business,” says Eva Clayton, President of the Nisga’a Lisims government. “This partnership represents an opportunity for the Nisga’a Nation to be involved in efficiently operating and expanding an integral piece of infrastructure in our Territory in a way that is environmentally responsible.”
“The acquisition of the Port of Stewart Bulk Terminal and the creation of a transportation business is more than infrastructure — it is a gateway to global markets, improved logistics, and economic growth for the Tahltan and Nisga’a Nations, our partners, and Canada as a whole,” notes Todd den Engelsen, CEO, Tahltan Nation Development Corporation This joint venture builds on our alliance with the Nisga’a and Arrow and reflects a shared commitment to regional development and strategic collaboration.”
Business Examiner
