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IW Business Bulletin – July 23, 2021

BHP Has Conditional Deal for Potash Mine Port

Westshore Terminals announced Thursday that the company has struck a deal with BHP Canada to provide port services to BHP’s long-awaited Jansen potash mine. The deal is conditional on approval from the BHP Board and a final decision on the Jansen project by BHP.

The deal, if finalized, would see Westshore provide services through 2051 with the requirement that Westshore build any needed facilities by 2026 with BHP funding construction.

No decision on the Jansen Potash project has been announced by BHP yet however the company confirmed on July 20 that it will make a decision in the next two months. BHP will announce second quarter financial results on August 17.

$903,000 for Data Capacity Building in Canada’s Agriculture Sector

On July 20, 2021, Protein Industries Canada announced its 23rd project, this time a co-investment into a project that will impact data use in the Canadian agriculture and agrifood sector. Led by Enterprise Machine Intelligence and Learning Initiative (EMILI) with assistance from the Alberta Innovates program Alberta Data Institute (ADI). The project will work on data literacy and issues surrounding data use in agriculture, focusing on technology usage in the value chain, data ownership and privacy, data literacy, and the creation of a working group for direction.

“Improving the way our sector uses data will go a long way toward helping satisfy consumer demands,” Protein Industries Canada CEO Bill Greuel said. “With the right data systems in place, consumers will be able to trace their food from farm to fork—including its positive sustainability story. This project will help bring us closer to where the sector needs to be to make that a reality.”

The project partners include: Assiniboine Community College; The Canadian Agri-Food Automation and Intelligence Network (CAAIN); Enns Brothers; Farm Credit Canada (FCC); G3; The Global Open Data for Agriculture and Nutrition (GODAN); Merit Functional Foods; Pulse Canada; and Saskatchewan Polytechnic.

Protein Industries Canada has invested more than $377 million into Canada’s plant protein sector since its inception.

DEEP sees $3 million investment

DEEP Earth Energy Production Corp., located in the province’s southeast corner, has secured $3 million in financing in its latest round with a provision for another $3.5 million. PHX Energy Services Corp., based in Calgary, has made the investment, keen to join the project that will become Canada’s first geothermal power facility. DEEP has pans to build 160 megawatts of geothermal power and related infrastructure, anticipating the eventual creation of an industry worth $1 billion to the region.

In addition to the investment, PHX Energy CEO John Hooks will join the DEEP Board of Directors.

“We are excited about this opportunity to diversify our business to include renewable energy projects like the DEEP Geothermal Project and we will continue to focus on ways to ensure long term sustainable growth for the business,” said John Hooks, PHX Energy CEO on July 20. “Through our position in DEEP, we will be able to provide our technical expertise to the DEEP Geothermal Project. The first 32 MW facility is anticipated to commence construction in 2022 and involves a plan to drill 18 horizontal wells, each with a total length of approximately 7,000 meters. Subsequent phases are projected to reach 160 MW with additional drilling and construction. Based on our extensive international directional drilling experience and industry leading technology, we are confident we can make a meaningful contribution to DEEP’s business strategy and through our equity investment share in future growth. The geothermal industry experience gained through our involvement with DEEP also positions us favorably to participate in other geothermal projects in North America and internationally.”

Next Week: Protein Industries Canada, with NRGene Canada, Farmer’s Business Network Canada Inc., Pulse Genetics and Manitoba Harvest will announce a new pea and hemp project on Tuesday, July 27.

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