When the rest of Canada SA国际影视传媒� in fact, the world SA国际影视传媒� thinks of the NWT, what comes to mind?
Natural resources and mining are likely top of the list. First gold and now diamond exploration and mining have been crucial elements of the territory's economy. And a major component to this place's allure and mystique.
The mining industry, according a news release from Wally Schumann, minister of industry, tourism and investment, "directly or indirectly employs nearly one-in-10 NWT residents and generates nearly a billion in annual economic activity."
The GNWT is in the process of developing mineral legislation SA国际影视传媒� the Mineral Resources Act SA国际影视传媒� that has begun "public stakeholder engagements." That means online information and a series of public meetings, which start today, Aug. 28, in Yellowknife and continue to Behchoko, Fort Simpson, Norman Wells, Inuvik, Hay River, before ending Sept. 12 in Fort Smith.
The federal government was responsible for fully regulating mining in the NWT until devolution in 2013, when the GNWT became responsible for public land management but the mining regulations remain unchanged. The new resources act will replace the old mining regulations from Ottawa.
The GNWT has been accused for years of not doing enough to carry the torch alight for the mining sector.
For example, NWT and Nunavut Chamber of Mines president president Gary Vivian and executive director Tom Hoefer appealed to members of the 18th legislative sssembly in December 2015 to improve the territory's investment climate.
"There are some things the government can do to the inherent problems that are keeping people away from here," Vivian said at the organization's AGM ("Chamber urges focus on mining," News/North, Dec. 21, 2015), while pointing to the closures of the Cantung and Snap Lake mines and a seven-year decline in mineral exploration investment as examples of government ineptitude.
Funny enough, not everyone in the business feels that way.
Vancouver-based mining exploration company Silver Range Resources sang the territorySA国际影视传媒檚 praises while announcing Aug. 2 that it had signed a letter of intent with GGL Resources, giving the company the right to explore for metals and minerals in its Slave Geological Province greenstone belt property, 250 kilometres northeast of Yellowknife.
"With the increased investment by a number of majors in Canada's North, it's encouraging that people are realizing, 'Hey this is a politically stable environment that has a wealth of resources, it's time to start taking it more seriously,'" said Richard Drechsler, of Silver Range Resources.
For all the bluster from the chamber of mines about the territory being a poor place to invest, the NWT can at least say itSA国际影视传媒檚 no Venezuela or Kazakhstan. Regulations may be cumbersome but itSA国际影视传媒檚 becoming clear the mining industry prefers political stability over shaky regimes with loose rules but uncertain futures.
A new Mineral Resources Act must strike a balance between making mining companies happy and respecting Indigenous communities and protecting the environment. This may seem difficult but really, itSA国际影视传媒檚 the only thing that makes sense in a territory rich in land, resources and responsible government.
