The three territories- Yukon, Northwest Territories and Nunavut makeup Canada’s North and are known for the importance of natural resources, particularly mining. The territories are noted to have sources of metals, diamonds, rare earth elements and base metals. Given the size of Northern Canada, the potential for future exploration and projects is limitless.
The Invest Canada North initiative, which was developed after a Prospectors and Developers Association of Canada convention, brings together private and public sectors from around the globe, interested in jointly promoting the territories. This initiative showcases the advantages and business opportunities of the three territories, individually and as a collective group to global investors. While there are differences between the territories and therefore, comes with competitiveness for investment, the three territories are most closely aligned together in the opportunities for development, production and exploration that exist across Northern Canada.
Executive Director of the Yukon Mining Alliance, Anne Turner states the North is ahead of the rest of Canada when it comes to indigenous and non-indigenous relationships and partnerships with stakeholders. Turner states “we have an absolute competitive advantage in the North” as it is beginning to be recognized as an explored jurisdiction with new discoveries and growing resources.
As the pandemic begins to affect the Canadian economy, investors could no longer travel to Canada to see the North first-hand. The Invest North team realized they needed to pivot their business to fully online and provide potential investors access to information on each of the territories virtually.
Invest North has marketed itself as the North’s largest mining private sector. Contributing to the North’s culture, economy as well as healthcare, education and small businesses all depending on mining for survival. The global initiative allows the North the opportunity to showcase the nature of working within the three territories and show how both local and global partnerships give the North their competitive advantage.
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