Nisga’a, Tahltan Nations partner with Arrow to acquire Port of Stewart terminal

The Nisga’a Nation, Tahltan Nation Development Limited Partnership and Arrow Transportation Systems Inc. have formed a joint venture to acquire the Port of Stewart Bulk Terminal in northwestern B.C.

The new entity, Portland Canal Holdings Limited Partnership, has entered into a binding share purchase agreement for Stewart Bulk Terminals Limited. The acquisition is expected to close in the coming months.

The partners are also consolidating two regional trucking operations — Arrow’s Stewart Trucking Division and the Tahltan-Arrow Transportation Limited Partnership — into a new transportation business.

“Together, we are making history. The acquisition of this strategic asset will drive economic growth, create opportunities and strengthen our nations’ self-determination,” said Kerry Carlick, president of the Tahltan Central Government.

Eva Clayton, president of Nisg̱a’a Lisims Government, said the partnership represents an opportunity to “efficiently operate and expand an integral piece of infrastructure in our Territory in a way that is environmentally responsible.”

Arrow executive vice-president Tim Bell said the deal will create “a vertically integrated supply chain that improves efficiency, enhances safety, and creates long-term, high-quality jobs.”

The B.C. government is supporting the purchase with a $5-million grant as part of its Northwest Strategy.

The Port of Stewart terminal will serve as a hub for shipping critical minerals such as copper concentrate from Newmont’s Brucejack and Red Chris mines, located in Nisga’a and Tahltan territories.