The ownership of the Port of Churchill and Hudson Bay rail line is about to change.
The process has begun to transfer the assets from OmniTrax Canada to a group of northern Manitoba First Nations, known as the Missinippi Rail Consortium.
A memorandum of understanding has been signed by the consortium and OmniTrax, which enables the new owners to negotiate with vendors ahead of the 2017 grain season, although the federal government must still approve the sale.
OmniTrax said in a statement, the sale of the rail line and port will promote economic development for northern Manitoban First Nations and guarantee the preservation of those assets for all of the communities serviced along the railway.
OmniTrax announced in July that the port was closing, about one in 10 Churchill residents worked at the port.