Investing in the NWT s Exploration and Mining Industry Department of Industry, Tourism and Investment

Transcription

1 Investing in the NWT s Exploration and Mining Industry Department of Industry, Tourism and Investment PDAC - March

2 The NWT Difference Open for Business Third largest region in Canada >1.17 million km² Population 43, communities Yellowknife is capital Devolution Agreement Settled Land Claims with First Nations Co-Management Regulatory Regime Resource Based Economy NWT Minerals Spending by Commodity (2016) 2

3 Why the NWT? Resource Wealth Drivers NWT has rich and diverse mineral potential 5 th 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 3

4 80 Years of Mining History Future Trends Our Resource Based Economy Renewed interest 4

5 NWT Mineral Facts and Opportunities 2016 Production: $1.28 Billion 2017 Exploration: $71 Million 2018 estimated increase Three producing diamond mines: Ekati, Diavik and Gahcho Kue Expansion projects underway Four advanced projects: Canadian Zinc, Fortune Minerals, Avalon, Selwyn-Chihong Exploration Projects: TerraX Minerals, Kennady Diamonds, Nighthawk Gold, Seabridge Gold, Pine Point/Osisko Lead/Zinc GNWT owned world-class Mactung Tungsten Deposit Increased staking new commodities 5

6 NWT A World Diamond Leader The NWT produced 20+ million carats of diamonds in 2017 NWT is a leading jurisdiction in social responsibility 9.8% 8.3% 11.3% 12.1% 12.6% 2016 Production data 32.3% 25.7% Russia Botswana Canada South Africa Angola Namibia Other

7 Our Programs and Initiatives Strategic, Collaborative and Balanced Approach 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 7

8 Leading Edge Geoscience Northwest Territories Geological Survey 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 : Launch of new web app Support for Clients - Prospectors and exploration companies - Academic researchers Geological Materials Storage Facility 8

9 Incentive Programs in Support of Mining Development Strategy Exploration support in search of future mines $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 times exploration credit on expenditures Prospecting Training 9

10 Development of a Mineral Resources Act Working Together 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 ( 2018: Ongoing Dialogue - Policy Development 10

11 Investing in Infrastructure Transportation Strategy and Four-Year Action Plan Three strategic transportation corridors identified: 1. Mackenzie Valley Highway (MVH) 2. Tłįchǫ All-season Road 3. Slave Geological Province Access Corridor 11

12 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 Council members at September 3, 2015 meeting in Yellowknife Regional Mineral Development Initiatives GNWT and Indigenous Governments partner in promotion and investment attraction Development of new resource legislation 12

13 Conclusion NWT s Competitive Advantage 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 13

14 Thank you Invest NWT