Former PM backs plans for Canada's 'largest' farm

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Agrimoney.com | 23 December 2009

A fund founded by former Canadian prime minister Paul Martin has put its money behind a venture aimed at becoming the country's largest farm, aiming to farm at least 50,000 acres within its first year.

The $50m Cape Fund, which includes Mr Martin on its investment committee, has put an unspecified sum into One Earth Farms, a venture which aims to start a cutting-edge crop on aboriginal land.

One Earth, which aims "to become Canada's largest, most efficient operating farm", says it intends to operate in partnership with the aboriginal, First Nations people, bringing jobs, revenues, and training.

The investment comes amid a highly-controversial dash by investors and nations with few farming resources, such as Saudi Arabia, for land to exploit a potential rise in crop prices, or improve food security.

Many projects, such as Daewoo's attempt to secure huge tracts of Madagascar, have foundered on differences between investors and local people.

List of investors

One Earth was unveiled in March by Sprott Resource Corp, a Canada-based resource group, which said at the time it intended to attract additional investment to the $27.5m it was putting in.

Sprott on Wednesday unveiled an extra $15m in equity funding, from Cape, silo manufacturer Ag Growth and pulses giant Alliance Grain Traders.

Cape managing director Peter Forton, who will join the One Earth, said the venture's "innovative" business model would bring "significant benefits" to the aboriginal peoples, through improved agriculture and wealth generation.

Kevin Bambrough, the Sprott chief executive, said:  "We look forward to One Earth Farms achieving its growth and profitability objectives."

Ag Growth shares stood Can$0.31 higher at Can$34.78 in late trade in Toronto, with Sprott shares up Can$0.07 higher at Can$4.06 and Alliance Grain Traders down Can$0.15 at Can$29.35.
Original source: Agrimoney
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3 Comments


  1. James
    08 May 2010

    I disagree. Other farmers have leased the land from natives many not paying fair market value. Sprott will also hire the natives to work the land. Note the word lease, Sprott will not own the land. This is not a new world order one government scheme. http://www.sprottresource.com/significant_projects.html

  2. 7th Generation
    04 Mar 2010

    You will not have our lands in the Global Land Grab. We will protect our lands from Globalization and from our corrupt leaders.

  3. thunders coming
    04 Mar 2010

    Yeah right, I don't buy into this bullshit. Just trying to take native lands! Just another globalization scheme -- one world government, I guarantee this will not go through in First Nations communities. The people will awaken and see it coming.

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