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NORTHWEST TERRITORIES
Days after a panel released recommendations for a future NWT economic strategy, another panel has released its recommendations for an NWT mineral development strategy.

"There are a number of things working toward the finish line and the goal is going to be to try to connect the work that we're doing," said Industry, Tourism, and Investment Minister David Ramsay, adding the economic opportunities strategy is focused on optimizing diversification within the NWT economy, while the mineral development strategy is focused on an industry-specific plan.

"Resource development in one way, shape, or form, whether it be mining or oil and gas is going to continue to be the backbone (of the NWT economy)."

The GNWT expects to finalize both strategies by October, said Ramsay.

He added the territorial government plans to look at a strategy for oil and gas development after devolution is complete.

While there are still about three months until a mineral development strategy is finalized and tangible actions are subsequently taken, Tom Hoefer, executive director of the NWT and Nunavut Chamber of Mines, said the NWT does get credit for getting this far, particularly in light of a developing economic strategy that shows support for mining developments and a federal commitment to modernizing the Mackenzie Valley Resource Management Act.

"By us telling investors that the federal government recognizes that the Mackenzie Valley Act requires some modernization, with the territorial government announcing they now have a foundation document for a mineral development strategy it will catch people's attention," Hoefer said.

"There are two things (the strategy) can do to attract investment here. One is it can take actions to improve investor certainty, and the other thing they can do is try and reduce costs. It's still a high-cost jurisdiction we're in up here."

Hoefer said slowed exploration activity, due to a lack of available capital and low commodity prices, allows for time to review and make a plan for mineral development in the NWT.

"We know the markets always change," he said. "If you look at the past history, markets go up and down like a roller coaster. We know they're going to come back at some point so this is really a great time for us to get our house in order."

Fact file

Five pillars of Pathways to Mineral Development

Create a competitive edge - Market NWT as a place for exploration and investment, as well as increase public awareness of geoscience.

Create a new NWT regulatory environment - Although largely a federal responsibility, GNWT can take steps to improve client service and increase certainty for investors.

Aboriginal engagement and community capacity building - Develop community capacity and "engagement road maps" to ensure effective consultation and timely permitting and environmental assessment processes.

Sustainability - Initiatives recommended here work to keep a balance between development and environmental protection.

Workforce development and public awareness - Create training programs and enhance public knowledge about mining as a career field.

Source: Pathways to Mineral Development report

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