Yellowknife Geoscience Forum to Spotlight Mineral Exploration

The 53rd Yellowknife Geoscience Forum, scheduled for November 25-27, 2023, will illuminate key issues surrounding mineral exploration and climate research in Canada’s North. Organized by the NWT & Nunavut Chamber of Mines, the event aims to foster discussions among industry leaders, researchers, and government representatives about the current landscape of the resource sector.

Karen Costello, Executive Director of the Chamber, expressed enthusiasm for the forum’s showcase sessions, which have expanded significantly since their introduction last year. “We’re kicking things off with an Arctic economic and security corridor panel,” Costello stated. The event will also feature a roundtable on energy and mineral development hosted by the Canadian Chamber of Commerce on the afternoon of November 25.

A diverse range of topics will be covered throughout the forum, including geoscience and exploration, environmental monitoring, and the impact of climate change on Northern lakes. A notable focus will be on the future of mineral resource projects, particularly the role of Indigenous leadership in development. Costello highlighted the importance of addressing the needs of the North’s mining industry, which has been a cornerstone of the local economy for over 90 years.

According to Statistics Canada, mining, along with quarrying and oil and gas extraction, contributed 46.7 percent of Nunavut’s gross domestic product and 22.1 percent for the Northwest Territories (NWT) in 2023. Costello noted that while the mining sector remains vital, the NWT’s contribution has seen a decline. She expressed hope that NWT Premier R.J. Simpson will heed concerns raised by Range Lake MLA Kieron Testart regarding this downward trend.

“Exploration is essential for identifying the next generation of mines,” Costello explained, emphasizing the need for ongoing investment in the sector. She called for the territorial government to create an environment that encourages investment and provides regulatory certainty to sustain exploration efforts.

In Nunavut, discussions around the proposed Nunavut land-use plan continue to be a pressing issue. This plan has been pending with the signatory since 2023 and will be addressed by the newly-elected legislative assembly. While current exploration in Nunavut is largely driven by established producers such as Agnico Eagle, Baffinland, and B2Gold, there is growing interest in critical minerals, including uranium, copper, and nickel.

Costello underscored the high costs associated with exploration in both territories. She highlighted the Chamber’s advocacy for a North of 60 mineral exploration tax credit, which would offer a 40 percent tax incentive for direct investment in exploration. This initiative could attract new investments essential for grassroots exploration.

The Yellowknife Geoscience Forum will also feature prominent speakers, including Premier R.J. Simpson and Professor Jasmin Raymond, recognized for her research on geothermal energy in the North. Other notable 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. Sessions will take place at the Chateau Nova and the Explorer Hotel, providing a platform for meaningful dialogue on the future of resource development in Northern Canada.