Northern mineral investment continues to languish – end in sight?

12 March 2014

(Yellowknife, NT – March 12, 2014) Natural Resources Canada’s (NRCan) survey of mineral exploration companies forecasts continued low investment in all three northern territories. NRCan’s latest semi-annual report Exploration and Deposit Appraisal Expenditures, by Province and Territory provides companies’ intentions to spend the following in 2014:

  • $71.5 million in the NWT, a decrease of $18.5 million (21%) from 2013;
  • $166.5 million in Nunavut, a decrease of $103.7 million (38%) from 2013; and
  • $97.7 million in Yukon, an increase of $7.8 million (9%).

For Canada, total spending intentions for 2014 have decreased to $2.15 billion, down $165.2 million (14%) from 2013. As a share of this projected Canadian investment, Nunavut is in 5th place, the Yukon is in 6th place and the NWT is in 8th place.  

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