NWT Up and Nunavut Down in Annual Mining Jurisdiction Survey

24 February 2015

(Yellowknife, NT – February 24, 2015) The annual Fraser Institute Survey of Mining Companies 2014 was released today. The annual survey assesses how mineral endowments and public policy factors such as taxation and regulations affect exploration investment in 122 jurisdictions throughout the world.

Of the Canadian jurisdictions Saskatchewan, Manitoba, Quebec, Newfoundland & Labrador, and Yukon ranked in the top 10 most attractive jurisdictions in the world for mining investment this year. Of Canada’s three northern territories, Yukon dropped to 9th place from 8th last year, the NWT rose to 15th from 25th and Nunavut dropped to 29th place. Survey respondents rated the mineral potential in the NWT 4th in the world and the mineral potential of Nunavut was ranked 25th, down from 11th in 2013. All three northern jurisdictions scored high in the “room for improvement” category. Some comments that survey respondents provided on the NWT and Nunavut were:

Northwest Territories

  • Lack of settled land claims in very prospective areas that are currently considered traditional territories makes it difficult (and more time consuming and costly) to move projects forward.
  • The overall project environmental review process is too long and if proponents are able to move their projects forward on their timeline, these timelines do not always mesh with the regulators’ timelines.
  • Projects are too easily referred to an environmental assessment, which causes undue and unnecessary delays.
  • Lack of infrastructure is a key stumbling block.
  • NWT has embarked on a Mineral Development Strategy to bring investment back into the north.

Nunavut

  • Even with a settled land claim, with the federal government still having overall jurisdiction (or at least a final approval step), projects can, and sometimes do, take too long.
  • Complete lack of infrastructure, and lack of roads where needed.
  • The Nunavut Water Board and the Nunavut Impact Review Board attempt to coordinate reviews of a project in order to reduce timelines and costs required.

Responsible resource development is critical for the future economic well-being of the NWT and Nunavut.  The NWT & Nunavut Chamber of Mines will continue to work with and provide input to the governments of the NWT and Nunavut and the federal government in an effort to improve the investment climate for exploration and mining in the two territories.
 

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