Drumbeats: Canadian Indigenous Investment Podcast

Mark Magnacca and co-host Rob Brant analyse Canada's Prime Minister Mark Carney's first federal budget hours after delivery, focusing on Indigenous-specific provisions and infrastructure investment opportunities for UK and continental European investors.

Rob details three critical Indigenous economy initiatives: legislation enabling First Nations Finance Authority to lend directly to special purpose vehicles, building on their recent $500 million bond raise; pilot bonding programmes helping Indigenous contractors access defence procurement despite Indian Act collateral barriers; and mechanisms allowing First Nations to monetize transfer payments for capital investments.

The budget positions Canada to attract a trillion dollars in private capital over five years through doubling non-US exports, establishing a Critical Minerals Sovereign Wealth Fund, increasing defence spending substantially, and embedding Indigenous Advisory Council oversight in the Major Projects Office.

For institutional investors seeking practical intelligence on Canadian project finance and Indigenous partnership structures, this episode provides essential analysis connecting budget policy to actual deal flow. Subscribe to Drumbeats for continuing coverage as Carney's provisions translate into investable opportunities across Canadian sectors.

Michael previously served as President and CEO of the Mining Association of British Columbia, Chair of Ridley Terminals, and Chair of the British Columbia Institute of Technology.

He explained how Indigenous partnership quality determines project velocity in Canadian resource development. Falkirk contributed to Osisko Development Corporation's $700 million Cariboo Gold Project environmental assessment, accomplished in three years instead of a decade or more, through engaging Indigenous communities from the beginning.

Michael's insights are captured in "Weaving Two Worlds," co-authored with Christy Smith of the K'ómoks First Nation. The conversation explored why you cannot legislate trust but must build it through authentic relationships, and how Indigenous-company alignment with government accelerates regulatory approvals whilst removing political risks that damage project economics.

In this Drumbeats episode, Mark Magnacca and Rob Brant are joined by Dallas Smith, President of Na̲nwak̲olas Council and former Chair of Coast Funds. Smith shares his journey from growing up between urban Vancouver and his North Island community to becoming a leader in Indigenous governance and economic development. He reflects on the $435 million Coast Funds model that has protected 3.1 million hectares of the Great Bear Rainforest while generating lasting economic opportunities. The conversation explores Indigenous-driven tourism, the potential of nation-to-nation trade, and how Indigenous-led financing frameworks are shaping sustainable investment and prosperity for future generations.

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In this episode, Mark Magnacca and co-host Robert Brant are joined by Catherine Pennington, Director of Indigenous Advisory Services at KPMG. Catherine shares her path from social work to the energy sector and explains how Indigenous relations are shaping the success of major corporate projects. She highlights KPMG’s Truth and Reconciliation Action Plan, and KPGM's services specializing in Indigenous equity, commercial structuring, and financing. Catherine also speaks to the increasing demand for skilled Indigenous relations professionals, the relevance of international models for Canada, and the vital role of Indigenous participation in infrastructure and energy projects, unlocking more than $30 billion in private investment.

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In this episode of Drumbeats, hosts Mark Magnacca and Robert Brant speak with Bernd Christmas, KC, Principal at Bernd Christmas Law Group (BCLG). The conversation explores the historical and legal importance of Mi’kmaq treaty rights, beginning with the 1725 peace and friendship treaty with the British. Bernd reflects on the landmark Donald Marshall Jr. case, which affirmed Mi’kmaq commercial fishing rights and reshaped Indigenous–government relations in Canada. The discussion also highlights modern examples of Indigenous economic development, including the Squamish Nation’s $1.2–$1.5 billion Sen̓áḵw project in Vancouver, designed to address both growth and affordable housing for its members.

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In this episode, hosts Mark Magnacca and Robert Brant are joined by Jean Paul (JP) Gladu, Board Member of the Indigenous Advisory Council and Principal of Mokwateh. JP shares his journey from his Anishinaabe roots in Thunder Bay to serving as President and CEO of the Canadian Council for Indigenous Business, where he advanced programmes that support Indigenous entrepreneurs.

He speaks about his role on the Indigenous Advisory Council for the Major Projects Office, where he promotes Indigenous participation at the outset of major projects.

JP highlights examples of effective collaboration, including Enbridge’s partnerships with First Nations in Alberta, and encourages international investors to work directly with Indigenous leaders to gain insight into local perspectives.

In this episode, Mark Magnacca and co-host Robert Brant are joined by Bernd Christmas, KC, Principal at Bernd Christmas Law Group (BCLG). With nearly 30 years of experience as a practising Mi’kmaw lawyer, Bernd has represented First Nations in groundbreaking projects that are reshaping Canada’s economy.

He shares insights from his recent and ongoing work, including billion-dollar negotiations in Ontario and major projects such as the Ring of Fire and the Port of Churchill. Bernd’s story reflects the growing influence of Indigenous nations in deal-making and the future of development across the country.

Our conversation explores Prime Minister Mark Carney's announcement of five nation-building projects generating $60 billion for the Canadian economy, supported by eleven Indigenous leaders with exceptional credentials appointed to the Indigenous Advisory Council. Rob details how these transformative initiatives, from LNG Canada's Phase Two expansion doubling liquefied natural gas production in Kitimat to the Darlington New Nuclear Project's small modular reactor development, create launching pads for equity ownership and responsible resource management through meaningful Indigenous participation.

The five designated projects include LNG Canada's Phase Two in Kitimat, British Columbia, doubling production capacity; the Darlington New Nuclear Project in Clarington, Ontario, pioneering small modular reactor technology; the Contrecoeur Terminal Container Project expanding Montreal's port infrastructure; the McIlvenna Bay Foran Copper Mine Project in Saskatchewan; and the Red Chris Mine expansion in northwestern British Columbia. Each project embeds Indigenous economic participation as fundamental to approval and development processes.

Our conversation explores specific multi-billion dollar projects, including the Grays Bay Road and Port development and the Kivalliq Hydrofibre Link, designed to open mineral corridors and transform energy infrastructure. President Obed details how these nation-building initiatives create launching pads for natural resource extraction whilst maintaining environmental standards and Indigenous rights protection.

Key insights include the strategic importance of Arctic sovereignty investments, the role of development corporations in facilitating partnerships, and how efficiency improvements in environmental assessments are accelerating project timelines without compromising standards.

This conversation reveals why going "through the front door" with Indigenous partners isn't just ethical, it's the pathway to successful returns in Canada's emerging Arctic economy.

Michael Bonshor, CPA, CMA, and newly appointed board chair of the Canadian Indigenous Loan Guarantee Corporation (CILGC), discussed the organisation's role in providing enabling affordable capital for Indigenous Nations. The CILGC, initially funded at $5 billion, was expanded to $10 billion by Prime Minister Mark Carney. With one deal completed and a number of applications received, the CILGC aims to support Indigenous economic opportunities across sectors. The CILGC's mandate now includes all sectors except gaming, and it plans to collaborate with other loan guarantee programmes to maximise funding utilisation.

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