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My Priorities and Solutions 

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Priority #1

A STRONG ECONOMY

MINING AND MINERAL EXPLORATION

“We have the potential, the people and the resources to lead the way. We can be first and best” - government needs to get out of the way for that to happen”

The COVID-19 pandemic and the wildfire evacuations did a lot of damage to businesses and the economy. Many businesses had to shut down and those that survived are hurting badly. The resource and mining sector is rapidly declining and new investment is lacking [see report] 

 

If COVID-19 and the wildfire evacuations taught us anything, it is that the NWT economy is very reliant on non-renewable resource extraction and that is not sustainable. We badly need to diversify our economy and compete at a national and global level to attract new investment to the territory.

 

Mining and Mineral Exploration:

 

As part of Canada’s Mineral and Metals plan (CMMP), more than half of Canada’s critical minerals can be found in the NWT. The Critical Minerals which should position the NWT as one of the most attractive destinations for mineral exploration and resource development in Canada and across the world.

 

Instead, according to the latest publication from the Fraser Institute which reports on government policies towards mining, the NWT is ranked last in Canada (46) behind Nunavut (41) and the Yukon (20) in investment attractiveness.

The Fraser Institute report also indicates that 42% of proponents willing to invest in the NWT eventually withdraw due to lack of transparency in the permitting and exploration process. 

 

Ongoing unsettled land claims in the NWT are a significant factor in the decline of mineral extraction and exploration investment. Investor confidence is low, uncertain and bogged down by government bottleneck processes.

 

 Over the last 3 years the GNWT has awarded just over $ 3 million through the Mining Incentive Program. This is not able to match competitive incentives offered by governments across Canada. 

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Solutions

MINING AND MINERAL EXPLORATION

  • Government needs to clearly communicate its permitting processes to proponents with realistic but reasonable timelines to reduce ambiguity and uncertainty. 

  • Develop a digital-online mineral exploration and staking process to reduce the cost of exploration 

  • Maintain the current Mining Incentive Program and explore opportunities with industry and the NWT and Nunavut Chamber of Mines to improve on the incentives programs to attract increased exploration 

  • Consider implementing a Territorial Mineral Investment Tax Credit Program to match that of the Federal Government. Other jurisdictions like Saskatchewan, BC, Yukon already have programs like these in place and are eating up all the competition   

  • Collaborate with Indigenous Governments with unsettled land claims to provide the necessary support needed to get land claims settled in these areas. This will open more land for exploration and boost investor confidence.      

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