Research Activities will Strengthen Aboriginal Investments in NWT Mining and Energy Sectors
YELLOWKNIFE, May 21, 2014 /CNW/ - Minister Aglukkaq today announced funding that will help Denendeh Investments Incorporated (DII), a partnership of the 27 Dene First Nations in the Northwest Territories, take advantage of current and emerging economic opportunities in the territory.
Over the next three years CanNor funds will support multiple investment planning activities related to opportunities in the mining, energy, and transportation sectors. These initiatives will contribute to informed decision-making with the aim to increase ownership and benefits for Aboriginal companies and communities in the Northwest Territories.
- CanNor's investment of $600,000 over three years, along with up to $84,000 from the Government of the Northwest Territories' Department of Industry, Tourism and Investment and funding from DII, represents an investment of over $1.2 million towards Aboriginal participation in key sectors of the NWT economy.
- DII is the General Partner of Denendeh Investments Limited Partnership, which was established to create long-term economic self-sufficiency for the Dene through profitable business ventures.
"Our Government is proud to contribute to projects that support strong, sustainable and prosperous northern communities. This investment will help Aboriginal people in the Northwest Territories capitalize on opportunities in the key northern economic sectors of mining and energy."
Minister of the Environment, Minister of the Canadian Northern Economic Development Agency, and Minister for the Arctic Council
"The GNWT is committed to building a diverse and sustainable future for the Northwest Territories. By working with strong economic players, such as Denendeh Investments Inc., these goals are realized and our energy and mining sectors are strengthened."
David Ramsay Minister of Industry, Tourism and Investment
Government of the Northwest Territories
"We appreciate the support from CanNor and the GNWT. The next three years will see significant growth for DII. In 2013 we received support from our leadership to pursue ownership in the energy and resources sectors, and to stimulate economic growth and diversification of our communities. The opportunities are multiple and First Nations can be directly involved through equity participation, joint ventures, business and employment."
President and CEO, DII
SOURCE: Canadian Northern Economic Development Agency (CanNor)
For further information:
Office of the Honourable Leona Aglukkaq
Canadian Northern Economic Development Agency
CanNor works to help develop a diversified, sustainable and dynamic economy across Canada's three territories, and delivers on its northern mandate through funding programs, the Northern Projects Management Office and by undertaking policy and research.
Denendeh Investments Inc
President and CEO, DII
For more information about CanNor, visit cannor.gc.ca
For more information on Canada's Northern Strategy, visit: northernstrategy.ca