VIDEO — Northwest Territories: Mining is the Backbone of Our Economy

- March 19th, 2020

Minister of Industry, Tourism and Investment Katrina Nokleby highlights the benefits of investing in mining in the Northwest Territories.

Interview conducted by Scott Tibballs; article text by Georgia Williams. 

Highlighting the benefits of mining in the Northwest Territories, Katrina Nokleby explained why the jurisdiction is favorable in terms of social connection and government support. 

“Investors should be looking at the Northwest Territories if they feel that mining does have that bad PR or that bad image,” said the territorial minister of industry, tourism and investment.

“Coming into the north, where you have the social buy-in and the social license for mining, I think is key because we are actually very stable. We’re not going to have an uprising and an overthrowing of our government like maybe some of the other places that are mining,” she said.

 

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While the minister was on hand at the Prospectors & Developers Association of Canada (PDAC) convention to drum up support and investor interest in her home province, she did touch on the recent decision by Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) to forgo its C$20 billion oil sands project and its influence on investor sentiment.

“I think there would be an impact just to the overall idea of investor certainty in Canada; in the north we are definitely a place that should be attractive to investors,” said Nokleby.

She continued, “We’re geopolitically stable, (the Northwest Territories has) a very complex and robust regulatory regime, so it is a little bit concerning that there is maybe, perhaps misinformation being spread about the impacts of some of these projects.”

Nokleby, who also oversees infrastructure, was critical of a Fraser Institute report ranking the Northwest Territories 35th — a decline of 25 spots year-over-year — in its annual mining jurisdictions survey.

“It’s my understanding that there wasn’t a lot of uptake on the survey in the Northwest Territories, so perhaps we could help the Fraser Institute out next time (by) getting some of this survey or information to our people so that they can have input on it,” she said.

Nokleby went on to say it is concerning to see reports that may deter investors from the territory.

“I don’t like when information is out there that we are not a place to invest because I don’t think that’s true, and we really do have buy-in from the majority of our people,” she added.

To hear more from Nokleby about investing in the north and the important role mining plays in fueling a green economy, watch the video above. You can also click here for our full PDAC playlist.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. 

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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