Thorunn Howatt
Northern News Services

Cambridge Bay (Mar 18/02) - There's a diamond rush going on right next door to this year's Nunavut Mining Symposium.

"It's coincidental. We move it around year to year," said Cambridge Mayor Keith Peterson. "It's coincidental with the diamond rush."

Peterson was referring to what is nicknamed the Coronation Gulf staking rush. A stream of diamond finds between Lupin Mine and Kugluktuk have been the buzz amongst rockhounds, so it's lucky this year's April 5-8 Nunavut show is held so close to the action. The last conference was in Rankin Inlet in November 2000.

"A lot of people will be talking about it. We are going to have most of the players up there. Ashton Mining will be there and Tahera," said Peterson.

Those companies were two of the first to make formal diamond-find announcements. And now others are following suit to spend big dollars to find gems.

But diamonds aren't the only things that will be shining in Cambridge Bay.

"The gold guys are going to be there. Hope Bay Joint Venture companies are going to be there talking about their project," said Peterson. Spiking gold prices over $300 per ounce are making miners pay attention to Nunavut deposits.

"We met with Miramar Mining yesterday. They are going to be doing a lot of work this year," said Peterson. Miramar is working toward a merge agreement with the Hope Bay Company. "We're not that far away from talking Inuit impact benefit agreement."

Accommodations were a concern for conference organizers but at press time there were plenty of rooms left in Cambridge during showtime. About 130 delegates are registered, but 225 is the target.

Regulatory processes within Nunavut's single settled land claim will be high on the agenda of conference topics. The territory has been touting the claim in its pitch to investors.

"For instance, in the Yukon there are 14 -- eight are settled and there are six to go," said Peterson. "We are open for business and we are stable."