YELLOWKNIFE (March 15, 2013) – The world is taking notice of the Northwest Territories’ mineral potential, with the territory ranking 29th most attractive jurisdiction for mineral exploration and development in the world and the best overall improvement in Canada according to the Fraser Institute's 2012-2013 annual survey of mining companies.
The Northwest Territories saw improvement in all policy factors used to rank jurisdictions, including current mineral potential; labour and skill availability; and uncertainty concerning the administration, interpretation, and enforcement of existing regulations.
“Our hard work to attract investment and ensure NWT residents and businesses benefit from mineral development has not gone unnoticed,” said Minister of Industry, Tourism and Investment David Ramsay. “The Northwest Territories is a great place to invest and we have a lot in our favour right now: the onset of Devolution, which investors see as a positive sign that will allow us to provide certainty to industry; the commitment by the GNWT and the Federal government to improve our regulatory system; and our work on a sustainable Mineral Development Strategy, all show we are serious about addressing our investment challenges and unlocking the mineral potential in the territory.”
Minister Ramsay also acknowledged that there is room for improvement and that the GNWT will continue to work with the Federal government for improved infrastructure and additional improvements to the regulatory process.
The Fraser Institute’s Survey of Mining Companies is performed annually and ranks the investment climates of mining jurisdictions around the world, based on the opinions of mining industry executives and managers. The Institute surveyed almost 800 industry executives around the world and ranked more than 100 jurisdictions on factors affecting decisions to invest in exploration or mines.
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