TLICHO
On Sept. 2, trucking company Ventures West became 100 per cent aboriginal-owned after the Tlicho Investment Corporation increased its ownership stake from 60 per cent to 90 per cent.

Grand Chief Eddie Erasmus, bottom front, stands with Tlicho Investment Corporation president Jasper Lamouelle, Whati Chief Alfonz Nitsiza, Bechoko Chief Clifford Daniels, Wekweeti Chief Johnny Arrow, Gameti Chief David Wedawin and TIC chairperson Doreen Lafferty-Zoe after signing the share purchase agreement for Ventures West, making it 100 per cent aboriginal-owned. - Karen K. Ho/NNSL photo

They did so by finalizing the purchase of company founder Glenn Bauer's shares of Ventures West. The remaining 10 per cent is owned by the Denesoline Corporation.

Investment corporation resident Jasper Lamouelle said this was always the vision of the Tlicho Assembly following the initial investment in 2009.

"We're just exercising it now," he said.

Grand Chief Eddie Erasmus said he remembered when the company started 27 years ago with former Tlicho grand chief Joe Rabesca and one truck.

"It was a pipe dream back then," he said of the 90 per cent ownership stake. "It's a reality today."

While the investment corporation is a majority shareholder in 57 companies, Lamouelle said the transportation company was a significant financial contributor.

"I'd say about 35 to 40 per cent of our revenue comes from Ventures West," he said.

Lamouelle called Ventures West a growth engine for the corporation.

"Our initial vision was to get our Tlicho citizens involved, to provide training and help with the growth going forward," he said. "That's still the plan."

Some of the drivers who started at the early days of Ventures West are now approaching retirement age, he said. Lamouelle said part of the company's plan for growth was letting more members of the Tlicho know that long-distance truck driving was a great way for them to enter the workforce.

Lamouelle also said there are currently six female drivers and the company has a zero-tolerance policy regarding harassment.

"That's a big deal for us," he said. "We want to provide a working environment where everyone can feel comfortable, and have fair, equal rights. That's our belief."

Ventures West is currently operating five territories and provinces, but Lamouelle said the company is still working on acquiring additional work.

"We're hoping for long-term contracts," he said.

Since much of the company's business is with the diamond mines in the NWT on the Tibbitt to Contwoyto winter ice road, Lamouelle said that the falling price of oil has actually helped with the costs of pre-fill.

"A small portion of the revenue at Ventures West comes from supporting the oil industry in Western Canada," said Kelly Breton, investment corporation chief executive officer.

"The impact to Ventures West has been minimal compared to some other trucking companies where they're predominantly generating their revenue from Western Canada."

While the share purchase was seen as happening eventually, Breton also said it fit into the company's long-term plans.

"When we look at diversifying, we're look at geographically but also through the services that will be offered at Ventures West," she said.

Lamouelle also said the company has the unique ability to transport liquid natural gas, also known as LNG.

"We feel that's going to be one of our growth engines within Ventures West," he said. "Going forward I think that market's going to open up. We're in a great position to take on that niche market."

While activity in Alberta and the winter road in the NWT represent approximately 45 per cent of the company's total business, Breton said the company hopes to attract more business in the Yukon and Saskatchewan.

"The plan would be to expand would be to have a bigger market share in those regions," she said.

Here in the territory, one of the major mines is also a big target.

"Diavik is one we hope we can gain back," Lamouelle said.

Still, Ventures West already does significant traffic on the territory's infamous ice-based traffic route.

"During the 2015 winter road season, Ventures West moved 138 million litres of diesel fuel," Breton said.

When asked if that number would grow, Breton had a quick response. "We're hoping," she said with a smile.

The organization did not disclose the financial terms of the share purchase.

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