Federal government investment supports resource development projects in the Slave Geological Province
TORONTO, March 4, 2019 /CNW/ - Resource development remains the principal driver of the Northwest Territories economy. This is why the Government of Canada is investing $5.1M in two projects that will support resource development in the Slave Geological Province (SGP).
Paul Lefebvre, Parliamentary Secretary to the Minister of Natural Resources, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CanNor was joined by Wally Schumann, GNWT Minister of Infrastructure and Industry, Tourism and Investment, to make the announcement this morning during the Prospectors and Developers Association of Canada (PDAC) Convention.
Funding will go towards the planning of an all-season access corridor into the SGP as well as aerial geophysical surveys of the region. The surveys will lead to the development of mapping products used by mineral exploration companies to target their activity.
Through these investments, the federal government is supporting the growth of a strong and sustainable resource development industry and related jobs in the North.
"Knowing where mineral deposits exist and being able to access them is the first step in attracting investment and growing the resource development sector. We know that similar projects in NWT in the past have led to significant economic development activity. These projects are building on that success. The Government of Canada is committed to the creation of more good jobs, more economic growth and long-term sustainable development in the North."
Honourable Navdeep Bains
Minister of Innovation, Science and Economic Development and the Minister responsible for CanNor
"Increased resource development in the Slave Geological Province supports the Government of Canada's goal to ensure the prosperity of the North and the well-being of northern communities. It is truly exciting to see the Government of the Northwest Territories working with Indigenous communities to lay the foundations for major economic development opportunities in NWT. These projects announced today are helping to safeguard the economic vitality of the North."
Parliamentary Secretary to the Minister of Natural Resources
"With support from the federal government, the GNWT continues to make investments in priority projects such as the Slave Geological Province Corridor that have the potential to make transformative impacts in the territory. This investment will increase access to the world-class mineral deposits located in the region and lower the cost of mineral exploration and development. It also supports our efforts to advance our understanding of the full potential of this resource-rich region and provide publicly available data that will stimulate development and provide economic opportunities to residents and businesses of the NWT."
Minister of Infrastructure
Minister of Industry, Tourism and Investment, Northwest Territories
- Development of the SGP Access Corridor: CanNor is investing $2,712,000 in this two-year project with a further $678,000 investment from the Government of the Northwest Territories Department of Infrastructure. Total funding for this project is $3,390,000.
- Exploration Development Initiative: CanNor is investing $2,400,000 in this two-year project with a further $280,000 investment from the Government of the Northwest Territories Department of Industry, Tourism and Investment and $749,000 from industry partners. Total funding for this project is $3,429,000.
Follow Minister Bains on Twitter: @ISED_CA
Join the conversation about economic development in the North:
SOURCE Canadian Northern Economic Development Agency (CanNor)
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]; Traolach Ó Murchú, Communications Advisor, CanNor, 867-667-3302, [email protected]; Krystal Pidborochynski, Senior Cabinet Communications Advisor, Government of the Northwest Territories, 867-767-9140 ext. 11095, [email protected]