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G.N.W.T launches new mining incentive program

Yellowknife, NWT – The G.N.W.T has launched a new mining incentive program.

It will be managed by the Northwest Territories Geoscience Office.

Director John Ketchum with the office explains what it’s all about.

“The program is designed to help stimulate exploration or to support exploration that’s currently ongoing in the Northwest Territories so it’s meant to be something that allows small businesses or prospectors to have that extra bit of incentive and resources to actually continue exploration projects or start new ones.”

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The program was announced Monday by Industry, Tourism and Investment Minister David Ramsay as mining week kicked off in the territory.

It’s modelled after successful incentive programs offered by other Canadian jurisdictions, including Yukon, which experienced strong mineral exploration growth through the use of similar programs following its devolution agreement.

Ramsay says the creation of a socially responsible and environmentally sustainable Mineral Development Strategy will help to strengthen and diversify the territory’s economy.

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