RANKIN INLET - It was the dawn of a new era in Rankin Inlet this month when Nunasi Corp. and Sakku Investments announced they had bought into M&T Enterprises Ltd.

The change in ownership became effective June 1, with Nunasi, Sakku and Peter Tatty each owning one-third of the company.

Tatty founded M&T with Angelina Mercer more than 25 years ago.

Since then, M&T has grown to provide airport service to airlines operating in and out of Rankin, operate the fuel-distribution contract and provide moving, relocation, snow clearing and road-and-pad-construction services to the community.

The company has also seen a dramatic rise in the provision of logistical support to the Kivalliq's mining industry in the past few years.

Sakku chief finance officer Brock Junkin said the deal has been in the works for some time.

He said the main reason Sakku invested is the significant upswing in the mining and mineral exploration industry.

"The world economy for minerals and precious metals is robust and should remain that way for a number of years, given how the Far East economy is performing and its requirements for raw materials," said Junkin.

"So it seemed like a good idea to get into the business of supporting that industry.

"We've been doing that at Sakku with various investments, and this is just another investment in that line of supporting the mineral exploration industry."

Junkin said Sakku is strictly an investor in the new partnership, but will have a seat on the board of directors.

He said the company will work with the board to approve a strategic plan and turn that over to management to apply a business plan.

"From that point we'll monitor the operation as board members, but we won't be actually taking an operational role. As of June 1, the Mercers were bought out and we purchased a portion of Mr. Tatty's shares."

Junkin said infrastructure will be very much part of M&T's plan.

He said the company will look at opportunities to enhance infrastructure, such as the road to Manitoba and constructing wharves or facilities in the Kivalliq for loading and off-loading product at various communities.

"We'd be interested in bidding and working on any kind of infrastructure development and we certainly have the capability of doing that."

The new partnership is having its first board meeting in Rankin Inlet this week.

Junkin said board members will be taking a look at the strategic plan and their expectations for the company.

He said there's no question volume in the region is going to rise, with the demand for infrastructure and increased housing.

"Just about anything you want to mention is going up in volume. So based on the general perception of the Kivalliq economy, and the Nunavut economy at large, I would expect the volumes to go up significantly for M&T."

Junkin said the involvement of Sakku and the Nunasi Corp. won't change M&T's structure at the operational level.

"The same people will be carrying on in the positions they now occupy.

"It's an exciting time for all parties involved and we look forward to the future."