Economic Future of NWT on Agenda as Mining Conference Kicks Off

YELLOWKNIFE (January 18, 2018) — The Northwest Territories’ (NWT) near-billion-dollar mining industry is seeking a push at a crucial time.

With no industry close to providing the level of economic benefit, jobs, and revenues that mining offers and current operating mines set to begin winding down in 2024, exploration is needed today to ensure the NWT’s next mining projects reach production in time.

As NWT representatives prepare to attend next weeks’ Association for Mineral Exploration (AME) Round-up in Vancouver, GNWT investments in Indigenous capacity building, investor awareness and marketing are needed just to maintain current economic levels.

The GNWT’s Mineral Development Strategy (MDS) guides the NWT’s approach to marketing, promotion, and business outreach; publicly available geoscience; and investments necessary to support the strong responsible resource sector the NWT needs to thrive.

As commodity prices continue to recover, and demand increases for minerals like lithium and cobalt — both found in the NWT — to power the clean economy of the future, GNWT investments are beginning to show returns with new exploration companies entering the territory, increased claim staking and new activity in regions that haven’t seen exploration for some time.

Quote:

“We are on the verge of big opportunities for NWT mining, but getting there means doing all we can to support exploration and new mines. This means working with our Federal partners, as significant and meaningful investment in infrastructure will help us achieve economic prosperity and the middle class jobs Northerners deserve. We are taking leadership and involving our partners in our approach to assuring our territory’s economic health for the future for generations to come.”
- Wally Schumann, Minister of Industry, Tourism and Investment

Quick facts:

  • In 2016 mining contributed:
    • 1,667 Northern jobs
    • $818 million in local business spending — $325 million with Indigenous businesses
  • AME Roundup runs from January 23-27, 2018 in Vancouver, BC
  • The GNWT is investing $92,000 to help seven Indigenous governments advance their individual mining interests and capacities

Relevant links:

Media Contact:

Mike Westwick
Communications Officer
Industry, Tourism and Investment
Mike_Westwick@gov.nt.ca
1-867-767-9202 ext. 63038