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Nunavut’s Mining Industry in the National Context Elizabeth Kingston Nunavut Trade Show October 2014 Key Messages • Exploration & mining are the foundation of Nunavut’s economy • Nunavut has been a great story of success • Exploration spending has suffered a significant decline • Investment needed to grow opportunities in our greatest economic strength (mining) and our greatest territorial strength (people) 2 The North: how do we compare? • • • • • • • • • 1/3 of Canada Less than 75k residents Arctic conditions & climate Virtually undeveloped with little infrastructure High costs Least mapped region of Canada Most heavily subsidized region of Canada Economic options are few & community opportunities are needed Non-renewable resources are the economic advantage Area of NWT + Nunavut = Norway, Sweden, Finland, Denmark, France, Germany, Poland, Spain, Portugal, Italy combined. 3 Mining is the largest private sector contributor in Nunavut • One mine in Nunavut already makes largest private sector economic contribution • And does not include exploration • Mining also contributes to other sectors, e.g. real estate, transportation and construction NUNAVUT GDP (2012) Other 22% Mining 25% Health 5% Education 7% Public Admin 20% Construction 10% Real Estate 11% 4 Grassroots Exploration $500 $450 438.5 NWT 410.3 $400 Nunavut $350 Yukon 335.3 B.C. C$ millions $300 255.7 $250 238.9 238.8 213 $200 $150 $100 166.7 107.2 70.7 $50 180.3 154.4 163.8 159 128.3 116.2 67.2 52.7 42.5 18.4 24.9 30.1 65.1 31.4 $0 2009 2010 2011 2012 2013 2014 5 Advanced Exploration (Deposit Appraisal) $400 NWT Nunavut Yukon B.C. $350 $300 336.2 323.8 273.1 C$ millions $250 206.6 $200 209.5 200.4 $150 135.6 $100 80.4 111.2 102.3 83.8 76 $50 50.5 25.7 20.2 40.7 29 51.3 59.9 52.9 22.7 38.2 40.1 32.6 $0 2009 2010 2011 2012 2013 2014 6 Mining production is significant NWT, Nunavut and Yukon Mining Production $2,500 NWT Nunavut Yukon $1,500 $1,000 $500 ) 20 13 (p 20 12 20 11 20 10 20 09 20 08 20 07 20 06 20 05 20 04 20 03 20 02 20 01 20 00 $0 19 99 $C Millions $2,000 Natural Resources Canada – March 2014 Nunavut – Meadowbank gold production increases 7 Falling Nunavut Exploration is a Cause for Concern Exploration & Deposit Appraisal Expenditures $600 $500 $C Millions $400 NWT Nunavut Yukon $300 $200 $100 $0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 NRCan – March 2014 Notes: • Expenditures reported include on-mine-site and off-mine-site activities, field work, overhead costs, engineering, economic and pre- or production feasibility studies, environment, and land access costs. • 2013 figures are final estimates; 2014 figures are revised spending intentions as of March 2014. 8 Nunavut Exploration Share (Uses March 2013 numbers) Nunavut as % of Total Canadian Mineral Exploration % of Total Canadian Spending 25 20 15 10 5 Note: “NU only” statistics begin after Nunavut was created in 1998 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 NRCan – March 2013 • Nunavut is witnessing a decline against other Canadian jurisdictions. 9 A level playing field for Nunavut miners? • Remote sites require airstrips and camps to support mobile workforce. Airstrip and camp at Meadowbank gold mine 10 Our industry creates significant benefits Potential New Nunavut Mine Jobs (construction + operations) Number of Workers • Mining is the largest employer of Aboriginal people • Mining in Canada is projected to need 120,000 workers by 2024 * • Nunavut Mining Jobs needed at peak (overlap) – over 8000 • Total person years employment – nearly 100,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 * Mining Industry Human Resource Council, 2014 11 Growing Inuit Businesses Opportunities & Benefits Selection of Inuit companies supporting the mining & exploration industry in Nunavut • • • • • • • • • • Peter’s Expediting Jago Services Qillaq Innovations Toromont Arctic Kitnuna Kivalliq Expediting & Storage Oomilik Enterprises Akhaliak Consulting Kitikmeot Blasting Services Kitikmeot Caterers Ltd. • • • • • • • • • Baker Lake Contracting & Supply Forest North Aviation & Logistics Eskimo Point Lumber & Supply M & T Enterprises Kiluk Ltd. Kusugak Consulting Qikiqtani Industry Ltd. Nuna Group of Companies Kitikmeot Cementation Mining & Development • Medic North Nunavut 12 Training & Education Builds Futures • • • • • • • Mining Matters / Actua Kivalliq Mine Training Society Arviat Diamond Driller/Welding Nunavut Arctic College / Trades School Agnico Eagle / Baffinland Initiatives Government of Nunavut “Sivumut Abluqta” Government of Canada – Northern ABE Program – Canada Job Fund 13 • In 2013, • • 32 active projects 5 advanced • • • • • • 12 Gold 7 Base Metals 4 Uranium 3 Diamonds 5 Iron 1 Coal • Several properties multi-commodity 14 Conclusion • Mining is the North’s economic strength • We have very high mineral potential • We have world class mines and world class opportunities • Actions are underway to support investment certainty and strengthen our number one industry • Providing infrastructure to support mining will help communities • Add your voice and influence 15