Speakers Announced for Yellowknife Geoscience Forum on Resource Development

The upcoming 53rd Yellowknife Geoscience Forum, scheduled for November 25-27, 2023, will focus on the critical issues surrounding mineral exploration and climate research in Canada’s North. The event is expected to gather industry leaders, researchers, and government officials to discuss both the challenges and opportunities present in today’s resource sector.

According to Karen Costello, executive director of the NWT & Nunavut Chamber of Mines, the forum will kick off with a panel on the Arctic economic and security corridor. The Canadian Chamber of Commerce will host a roundtable on energy and mineral development, providing a platform for meaningful discussions on these vital topics. “We’re very excited about how the showcase sessions have evolved and how they complement the technical program,” Costello remarked.

A diverse range of sessions will be offered during the forum, encompassing themes such as geoscience and exploration, energy in Canada’s North, permafrost studies, and environmental monitoring. Additionally, there will be discussions focused on the impact of climate change on Northern lakes, community engagement, and updates on regulatory policies.

The significance of the North in national conversations is growing, and the forum aims to explore what it takes to advance the next generation of mineral resource projects. Notably, a panel dedicated to Indigenous economic leadership in mineral development will be featured, alongside discussions on Arctic security and critical minerals investment.

The mining industry in Canada’s North has a history spanning over 90 years, providing numerous employment opportunities and contributing significantly to the regional economy. Costello emphasized that the current generation of producers in the Northwest Territories (NWT) presents a unique chance for Indigenous development corporations to engage actively within the resource sector.

Mining has long played a crucial role in the Northern economy, with Statistics Canada reporting that mining, along with quarrying and oil and gas extraction, represented 46.7 percent of Nunavut’s gross domestic product in 2023. In the Northwest Territories, this figure was 22.1 percent, although Costello noted a recent decline in this percentage. She expressed hope that NWT Premier R.J. Simpson would address the “red alert” regarding the mining decline, as raised by MLA Kieron Testart.

“If he [Simpson] is supporting that, that’s excellent. I’d like to see how that statement is manifested into direct action by the territorial government,” Costello said. “Exploration is a part of that, and keeping the project pipeline fit is crucial.” She highlighted the need for the government to foster an environment that attracts investment and offers regulatory certainty, essential for sustaining exploration efforts.

In Nunavut, the recommended land-use plan remains a significant focus for stakeholders, with discussions ongoing since 2023. Much of the current exploration activity is driven by established companies like Agnico Eagle, Baffinland, and B2Gold. Nevertheless, there is growing interest in critical minerals, including uranium, copper, and nickel.

Costello pointed out that the high costs associated with exploration in the North remain a challenge. To address this, the Chamber of Mines advocates for a North of 60 mineral exploration tax credit, proposing a 40 percent tax credit for direct investments in exploration to attract new funding for grassroots projects.

This year’s forum will feature a range of notable speakers, including Premier Simpson and Professor Jasmin Raymond, an expert on geothermal energy. Other distinguished speakers include Professor Duane Froese from the University of Alberta, Pierre Gratton from the Mining Association of Canada, and Karen Rees from the Prospectors & Developers Association of Canada. Events will be held at the Chateau Nova and the Explorer Hotel in Yellowknife.

The Yellowknife Geoscience Forum promises to be a pivotal event for those involved in the resource sector, highlighting the North’s potential in mineral exploration and fostering discussions that could shape its future.