At present the Hudson Bay Railway(HBR) is owned by Denver-based OmniTRAX, which also owns the port of Churchill. The HBR was formed in July of 1997 by OmniTRAX to purchase Canadian National Railway lines to Churchill and also to Flin Flon and Lynn Lake.
|A group of First Nations communities in the areas through which the rail line passes have sent a letter of intent to OmniTRAX. Omnitrax confirmed it received the letter of intent to purchase the Port of Churchill and Hudson Bay line. There will now be a 45-day period of due diligence before the sale can be completed. Both the federal and provincial governments would be asked to support the groups.|
"Churchill is critical. It's a strategic trade corridor. It's the only arctic deep water seaport. The future for Churchill involves further investments and increasing the scope of those investments — not just focusing on the short-term nature. I believe OmniTrax is serious about looking for a new owner and I do believe there's huge potential if the federal and provincial governments are prepared to be there. We are. I can't speak for the federal government but I'm optimistic following the discussions we had today."
OmniTRAX Canada president Merv Tweed indicated that service could be discontinued if no new buyer were found. He also suggested governments could have the railway operate as a utility, presumably with regulation of rates and some form of subsidy in poor years.