Nordex Explosives Ltd. in Kirkland Lake is partnering with another First Nation business. It announced a recent memorandum of understanding agreement with Wahgoshig Limited Partnership, through its general partner Wahgoshig Resources Inc. They have agreed to enter into a working relationship that is expected to be structured as a limited partnership.
Nordex previously announced its intention to enter into a working relationship with the Wabun Tribal Council through the formation of a limited partnership expected to be known as Niimki Explosives.
Nordex and Wahgoshig intend to pursue business opportunities with customers operating in the mining, quarry and construction industries with which Wahgoshig has a working agreement and in the geographic territory where the Wahgoshig First Nation holds territorial rights. The territory of the First Nation partners covers a large land mass comprising most of northeastern Ontario including the Timmins and Kirkland Lake mining camps.
“We are very excited about working with both Wabun and Wahgoshig as we share many of the same objectives and goals with regard to the development of Northern Ontario and the protection of our collective interests and rights,” said said Nordex president and CEO Jim Taylor in a press release.
These agreements are intended to develop and create new opportunities for both Wahgoshig and Wabun First Nation businesses and members.
They also create many new opportunities for Nordex, which recently announced the opening of a new strategic distribution site in the Muskoka area. It gives the company a market potential, within a 200-kilometre radius, up to $25,000,000 in annual explosive sales to key quarry, construction and mining companies. The site is the first of at least two such locations expected to be added by the end of 2013.