The Fed pays K 500K to the North Mining Promotion Project at its annual conference
Vancouver – The federal government is spending $ 500,000 to lure investors to develop untapped mineral resources in the Yukon, Northwest Territories and Nunavu.
Yukon MP Larry Bagnell announced the initiative on behalf of Economic Development and Official Languages Minister Melanie Jolie in Vancouver on Sunday.
The Yukon Mining Alliance will use the funds to showcase opportunities for the next three years at the annual Prospectors and Developers Association conference in Canada.
Bagnell said the conference is the largest of its kind with more than 1,000 exhibitors and 25,000 participants from around the world, and this year’s event will be held in Toronto in March.
He said the Mining Alliance would make an important appearance at the conference, which would include a media center, an all-day forum with information from the North, and a networking event.
It is part of the Invest Canada North initiative, which aims to promote areas as attractive investment destinations and create jobs for Indigenous and Northern residents.
“Mining investors in New York or London are unaware of our strong indigenous corporations in the North and all the resources they need to bring in their projects. They don’t know about our powerful mining companies, “said Bagnell.
“They may not know how open and welcoming the regional prime ministers are… and their governments are for mining. They don’t know about the potential for undeveloped mining in millions of acres that they can invest in.”
Yukon Premier Sandy Silver says his region is a top-tier mining destination with rich geological potential.
“Yukon has a terrific lot to offer investors,” he says. “We are a geopolitically secure jurisdiction and our government is proud of our work to build a strong, mutually relevant partnership with Yukon First Nations for the benefit of all Yukon residents.”
Caroline Kochran, premier of the Northwest Territories, added that the North is rich in minerals that “fuel the global green economy” such as lithium and cobalt, which are used in rechargeable batteries.
“A lot of people say we should close the mines but we can’t. In fact, we need the mining sector. “
This report was first published in the Canadian Press on January 19, 2020.
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