TORONTO (miningweekly.com) – The Canadian federal government this week announced measures to support geoscience research and mining investment in the country’s Far North.
The Minister of Environment, the Canadian Northern Economic Development Agency (CanNor) and for the Arctic Council, Leona Aglukkaq, on Friday announced funding for projects in Nunavut and the Northwest Territories that would enhance geological knowledge, support infrastructure and major resource development, the mining sector and cultural industries.
The government would invest more than C$6.7-million in these geoscience research projects. Combined with contributions from partners, the total investment would be more than C$12.4-million in geoscience research, which would help create jobs and prosperity for northerners.
The Northwest Territories Geoscience Office and the Canada-Nunavut Geoscience Office would lead the projects in their respective regions. Each project would provide significant data and research that would be available to governments, academics, prospectors and companies. The projects would also enhance awareness of geological potential across Nunavut and the Northwest Territories.
The federal government on Wednesday also announced funding to spur investment for Yukon's junior precious-metals exploration and mining sector.
CanNor and the Yukon government supported a two-year initiative coordinated by the Yukon Mining Alliance to promote Yukon as a top mineral investment jurisdiction.
This initiative built on previous CanNor investments to assist the Yukon Mining Alliance to attract capital and communicate the Yukon's commitment to its primary industry and the competitive advantages of the territory as a geopolitically safe and geologically endowed jurisdiction.
CanNor would invest $251 000 over two years to raise Yukon's profile as a mining investment opportunity and to promote the Yukon's leading explorers, developers and producers as entrepreneurs committed to sound mining practices. The Yukon government would contribute about $75 000 to support this marketing initiative.
Mining, Yukon's primary private-sector economic driver, made up more than 20% of the territory's gross domestic product. The most recent increase in mineral exploration, which took place in 2011, included discoveries of more than 7.3-million ounces of gold, 50-million ounces of silver and ten-million ounces of platinum-group metals.