Canada leases space port in bid to break reliance on U.S. rockets like Musk’s SpaceX

The investment is part of a broader effort to build an alternative to foreign companies — most acutely Elon Musk’s SpaceX, which pioneered re-usable private rocketry. Photo by Contributed/Maritime Luanch Services Inc.Article contentPrime Minister Mark Carney’s government announced a 10-year, $200 million agreement to use a private space port on Canada’s east coast as it pursues a satellite launch capability independent of the United States and other countries.Sign In or Create an AccountEmail AddressContinueor View more offersArticle content“Reliable and independent launch access will enable Canada to place critical satellites into orbit even during global uncertainty, geopolitical tensions, or disruptions in foreign launch markets,” the government said in a statement.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentThe launchpad is located near the town of Canso, Nova Scotia and is run by Halifax-based Maritime Launch Services Inc. The lease will set up the potential for launching “satellites and payloads from Canadian soil, on Canadian‑built rockets, at Canadian‑run facilities,” the government said.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentCanada’s federal budget published in November included $183 million over three years for the defence department to establish a sovereign space launch capability. On Monday, the government announced first-round winners in a contest to fund launch startups: NordSpace, Canada Rocket Company and Reaction Dynamics.Article contentIt’s a broader effort to build an alternative to foreign companies — most acutely Elon Musk’s SpaceX, which has become one of the world’s most valuable private firms by pioneering re-usable rocketry and integrating it with a constellation of thousands of Starlink satellites.Article contentMusk is the world’s richest man and a key supporter of President Donald Trump, who has prompted widespread backlash in Canada with tariffs and saying he wants to make the country a 51st state.Article contentAt the moment, Canada’s biggest satellite company, Telesat Corp., is relying on SpaceX to launch its next-generation fleet, which would be alternative to Starlink.Article contentThere are signs that investors are backing some Canadian space firms. On Monday, Ontario-based MDA Space Ltd. announced the closing of a public offering for gross proceeds of approximately US$300 million.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending Subscriber only.

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The United States is losing its grip on Canada's steel market Subscriber only Commodities Posthaste: Even Americans are getting fed up with Donald Trump's tariffs News Saint John's port is booming as Ontario shippers seek to dodge U.S. tariffs Economy Canada mulls joining U.K.-led response force as its military grows PMN Business Bank of Canada expected to hold interest rates as nation faces trade uncertainty, global conflict Economy