Delivered on April 25, 2018
Check against delivery
Thank you for coming – and for your interest in the NWT.
Before I get in too deep, I want to give you a brief introduction to our territory. The Northwest Territories is among Canada’s largest jurisdictions.
We have 1.3 million square kilometres of land and the total population of a small city. What we lack in population we make up for in resources.
Our region’s economy was built by prospectors and the investors who funded them. They keep coming back because our geology is among the highest potential in the world. We have nearly a century of continuous mining. It began with metals like zinc, lead, and gold.
Today, we produce more than $2 billion in value from our world-leading diamond industry. And in a difficult exploration market, we have seen an uptick in claim staking — a testament to the continuing attractiveness of our jurisdiction.
That said, most of the territory lies above the Arctic Circle. It means our climate can be harsh and unforgiving. It can be expensive to do business here.
As a government, our tax base is limited, so it’s hard for our government to invest in the projects we need without co-sponsors. That’s why we are here. We recognize that competition for exploration and development dollars is strong. With the realities I just explained, it begs the question - how does the NWT expect to compete?
The answer comes down to what we call the “NWT Difference.” It’s at the core of who we are.
To understand our unique edge on mineral exploration and development, you first need to know two things.
The first thing you need to know is that the NWT has an extraordinary wealth of resources.
We’re about way more than diamonds. We are seeing resurgence of interest in the gold and base metals that established our territory. Perhaps most exciting, we have are the resources needed to power the green economy of the future.
As the federal government drives its agenda of innovation and technology attention is growing on the NWT’s strategic and technology minerals like lithium, cobalt, and rare earth elements.
And with a long history of strong governance and an 80-year history of collaboration with the mining sector, these resources come with the kind of political stability and investment security elusive in many jurisdictions with this kind of potential.
The second thing you to need to know is: Northerners support mining. 86% of NWT residents believe a strong mining sector is vital to the long-term health of the NWT. 82% want to see more mining projects in the NWT.
NWT residents and businesses support mining because they are an important part of our mining sector. Mining has driven the NWT economy for a long time. Many of today’s leaders worked in mines and the exploration sector. When the diamond mines arrived, it was a natural evolution to get involved.
Indigenous Governments in our territory also have a vested interest; many with settled modern land claim agreements. They share in the resource royalties paid by our mines and are part of our co-management regulatory system.
There is a defined structure through which our government works with Indigenous governments and communities, and a clear path to communication and negotiation for industry stakeholders.
Our government is also supportive.
Until 2014, our natural resources were managed by Canada’s federal government It left us with policies and legislation that didn’t make sense for our territory, and those doing business there.
With the reins now firmly in our hands, we’re changing that. We are drafting new mineral resource legislation to address the need for modern, clear, competitive laws that respond to the needs of the NWT — a big step forward.
We’re invested in making new and relevant geoscience available. This includes reports on the geochemistry of the Slave Geological Province which is one of the highest-potential regions in Canada.
And our government has a million dollar Mining Incentive Program available to prospectors and exploration companies carrying out mineral exploration in our Territory. It’s a small number by many measures — but one demonstrative of our support, and one that’s shown early success.
And to complement these efforts, we’re building a local workforce so industry can access local labour.
We have created a unique approach to mineral exploration and development in the NWT. It is based on the fundamental fact that northerners want new mines, our economy needs new mines, and that buy-in is essential to driving development forward.
Our approach is built on partnerships with the industry stakeholders and the Indigenous governments that make up our territory. It is built on mutual respect and the recognition that each of us can contribute to the success of the other two to maximize benefits.
Through Socio Economic Agreements established by our government with mining companies and 25 years of working together, we have built an ecosystem of well-trained local workers and mine service companies proven to keep world-class mines on-track.
Our people are seeing a real and tangible reason to stay in school and seek higher learning.
They are doing more than taking on labour jobs. They are going to University in the South and coming back schooled in mining related fields like engineering and geosciences.
Our Indigenous governments own and operate the companies that service the mines, creating a robust indigenous business community. They own construction, logistics and transportation companies.
Some have expanded from our territory to service industry in Alberta and across Canada.
Mining is allowing our people to take control of their future.
It provides thousands of jobs to northerners where otherwise there would be none.
It is inspiring youth to stay in school and aspire to have better jobs and even careers.
Mining revenues are empowering and shaping Indigenous governments, businesses and communities
That’s the NWT difference.
And why should it matter to you? Because it means that we’ve laid the groundwork for our residents to want to work with you as much as we do.
You can invest in extracting resources anywhere. But if you want to do it with security in a territory where your investment will empower a people and inspire a future...
Come invest in the NWT.