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Redone 2016
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Investing in the NWT’sExploration and MiningIndustry
Department of Industry, Tourism and Investment
PDAC - March 2018
Open for Business
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NWT Minerals Spending by Commodity (2016)
• Third largest region in Canada >1.17 million km²
• Population 43,349• 32 communities• Yellowknife is capital• Devolution Agreement• Settled Land Claims with First Nations• Co-Management Regulatory Regime• Resource Based Economy
The NWT Difference
Why the NWT?
• NWT has rich and diverse mineral potential
• 5th lowest risk jurisdiction in the world for mining investment and lowest social risk jurisdiction (Mining Journal World Risk Report)
• Leader in minimizing trade barriers; high political stability and security (Fraser Survey)
• World diamond leader
• Investment in infrastructure
Resource Wealth Drivers
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80 Years of Mining History –Future TrendsOur Resource Based Economy
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Renewed interest
NWT Mineral Facts and Opportunities
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• 2016 Production: $1.28 Billion
• 2017 Exploration: $71 Million
• 2018 estimated increase
• Three producing diamond mines: Ekati, Diavikand Gahcho Kue
• Expansion projects underway
• Four advanced projects: Canadian Zinc, Fortune Minerals, Avalon, Selwyn-Chihong
• Exploration Projects: TerraX Minerals, KennadyDiamonds, Nighthawk Gold, Seabridge Gold, Pine Point/Osisko Lead/Zinc
• GNWT owned world-class Mactung Tungsten Deposit
• Increased staking – new commodities
NWT – A World Diamond Leader
The NWT produced 20+ million carats of diamonds in 2017
NWT is a leading jurisdiction in social responsibility
32.3%
25.7%12.6%
11.3%
9.8%
8.3%
12.1%
RussiaBotswanaCanadaSouth AfricaAngolaNamibiaOther
2016 Production data
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Our Programs and Initiatives
• Mineral Development Strategy – new funding
- Mining Incentive Program
- Public Geoscience and Research
- Client Services and Community Relations
- Education (REDI, Mining Matters)
• Socio-Economic Agreements
• Mine Training Society
• NWT and Nunavut Chamber of Mines
• NWT Transportation Strategy
• 2018: Energy Strategy 2030; Petroleum Resources Strategy; Climate Change Strategic Framework
Strategic, Collaborative and Balanced Approach
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Leading Edge Geoscience
• Advancement of Geoscience Knowledge in the NWT
- Mapping
- Deposit Assessment
- Geochemistry and Geophysics
• First Class Services
- Geological library with client workspace
- Information research assistance
- Field research support
- 2018: Launch of new web app
• Support for Clients
- Prospectors and exploration companies
- Academic researchers
• Geological Materials Storage Facility
Northwest Territories Geological Survey
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Incentive Programs in Support of Mining
$1 Million Annual Budget
• Prospector Mining Incentive Program
- Prospectors licensed to operate in NWT
- Up to $25,000 in funding
• Corporate Mining Incentive Program
- Companies licensed to operate in NWT
- Up to $200,000 in funding
• Exploration Incentive Program
- Encourages early-stage exploration
- For mineral rights holders
- 1.5 times exploration credit on expenditures
• Prospecting Training
Exploration support in search of future minesDevelopment Strategy
Development of a Mineral Resources Act
• Respond to the unique needs of the NWT
• Increase investment in the mining sector
• Promote a sustainable and diversified economy
• Protect the rights and traditions of Indigenous peoples
• Protect the natural environment
• Provide benefits from mineral resources to the NWT
• Enhance public geoscience knowledge of the NWT
• Release of What we Heard Report and Key Policy Considerations (www.iti.gov.nt.ca)
2018: Ongoing Dialogue - Policy Development
Working Together
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Investing in Infrastructure
•Three strategic transportation corridors identified:
1. Mackenzie Valley Highway (MVH)
2. Tłįchǫ All-season Road
3. Slave Geological Province Access Corridor
Transportation Strategy and Four-Year Action Plan
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The NWT Difference: Indigenous
Partnerships and Support for Mining• Co-Management Boards
• Intergovernmental Council• Created with Devolution
• Members are leaders from GNWT
and Aboriginal Governments
• Lands, water and resources issues
• Resource Revenue Sharing
• Regional Mineral Development Initiatives
• GNWT and Indigenous Governments partner in promotion and investment attraction
• Development of new resource legislation
Council members at September 3, 2015meeting in Yellowknife
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Conclusion
1. Rich and diverse geology, relatively underexplored
2. Partnership approach with Indigenous governments and businesses on resource development, revenue sharing and investment attraction.
3.NWT manages its own mineral and petroleum resources
4.Mineral Development Strategy, Energy Strategy, Transportation Strategy, Petroleum Resources Strategy positioned to address challenges
5. Focus on transportation, energy and communications infrastructure development
6. Improvements to regulatory regime and development of a new Mineral Resources Act
NWT’s Competitive Advantage
Thank you
Invest NWT