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National Indigenous News October 21 · National Indigenous Newscasts

• 0:00
  SPEAKER_01: This is a look at your National Indigenous News.
• 0:02
  SPEAKER_01: I'm Daryl Stranger.
• 0:03
  SPEAKER_01: After a month's long litigation, Baffinland has secured a federal loan to continue operations at its Mary River Iron Ore Mine through 2027.
• 0:13
  SPEAKER_01: The company announced it had received the loan Tuesday in a news release.
• 0:16
  SPEAKER_01: The Oakville, Ontario-based Baffinland Iron Mines Corp., which operates the mine on northern Baffin Island, announced in May it had filed for creditor protection.
• 0:25
  SPEAKER_01: The$660 million loan from Export Development Canada, a Crown Corporation, is intended to provide liquidity to keep the mine operational.
• 0:34
  SPEAKER_01: Baffinland is Nunavut's largest private sector employer with approximately 1,200 people, including over 300 Inuit employees.
• 0:42
  SPEAKER_01: The company will use the money for operating costs, exploration, and expansion.
• 0:47
  SPEAKER_01: There are limitations on how the company can spend the money.
• 0:50
  SPEAKER_01: The new agreement does not allow Baffinland excessive spending on mining exploration or expansion, defining these amounts as more than$14 million on exploration or over$28 million on expansion.
• 1:01
  SPEAKER_01: Baffinland still remains under creditor protection, which could still lead to recapitalization or potential sale of the company.
• 1:08
  SPEAKER_01: The company's financial troubles are linked to its failed railway expansion proposal for Milne Inlet.
• 1:13
  SPEAKER_01: It spent more than$1.5 billion on the proposed expansion, which was ultimately rejected by the federal government after years of hearings and opposition from some North Baffin communities.
• 1:24
  SPEAKER_01: As of May, Baffinland owes a total of$2.6 billion to 231 creditors.
• 1:30
  SPEAKER_01: A dozen of those creditors are northern businesses and entities who are owed at least$27 million.
• 1:36
  SPEAKER_01: In Alberta, it was a big day for the community of Minnethni as a groundbreaking ceremony took place yesterday for expansion in the community.
• 1:44
  SPEAKER_01: Benjamin Giro has the details.
• 1:46
  SPEAKER_02: October 20th was the official groundbreaking day for the Bears Paw First Nation as they begin phase one of a new subdivision project in Manithne.
• 1:55
  SPEAKER_02: The Banf Canonaskis MLA was in attendance, as well as the Nation Chief and Counselor Rod Hunter.
• 2:00
  SPEAKER_02: The day started with a pipe ceremony before the ground was broken.
• 2:03
  SPEAKER_02: Phase one of this project is said to bring 19 service building sites for new member homes in Manithi.
• 2:09
  SPEAKER_02: Chief Darcy Dixon spoke at the groundbreaking and said this.
• 2:32
  SPEAKER_01: In Manithne, I'm Benjamin Giroud.
• 2:35
  SPEAKER_01: A new$130 million fellowship program is intended to support Indigenous youth in their leadership development.
• 2:42
  SPEAKER_01: The MasterCard Foundation Fellowship Program has selected its inaugural 25 cohorts, each to receive$50,000 to support their work over the next two years.
• 2:52
  SPEAKER_01: The Saskatchewan Institute of Indigenous Technologies, along with the Gabriel Dumont Institute, are both partnering institutions as the first round of cohorts have been selected.
• 3:02
  SPEAKER_01: The hope is to continue to have cohorts every couple of years and continue supporting youth leaders from across Canada and bring them to Saskatchewan to connect with other local Indigenous leaders, elders, and knowledge keepers and continue supporting their leadership development skills.
• 3:15
  SPEAKER_01: Over the next decade, the program is expected to support more than 1,000 young people as they improve their leadership skills within their respective fields.
• 3:23
  SPEAKER_01: That's a look at your national Indigenous News.