YELLOWKNIFE (July 31, 2014) – The Government of the Northwest Territories’ Mining Incentive Program (MIP) has been oversubscribed in its inaugural year, with strong interest shown by companies and prospectors in the Northwest Territories and across Canada.

The program was launched in June 2014 and provides funds to eligible prospectors and mining exploration companies that are already engaged in mining exploration projects or proposing new projects in the NWT. It aims to offset some of the financial risk associated with grassroots mineral exploration in the NWT.

“The Mining Incentive Program helps our government support those with the energy, expertise and perseverance that this industry relies on to conduct mineral exploration in an environmentally sustainable way,” said Minister of Industry, Tourism and Investment David Ramsay. “I especially look forward to using this program to contribute to the success of northern and Aboriginal-owned businesses pursuing mining projects, so more northerners can enjoy the benefits of economic development and a healthy mining sector.” 

The MIP is administered by the Northwest Territories Geoscience Office, which recently informed successful applicants as they make plans to carry out field work during the short summer season.

Launching MIP is part of implementing the GNWT’s Mineral Development Strategy and demonstrates the government’s commitment to growing a strong and diversified economy across the NWT.

For more information:

Alayna Ward
Manager, Public Affairs and Communications
Industry, Tourism and Investment
Government of the Northwest Territories
Tel: (867) 920-8696
Email: alayna_ward@gov.nt.ca