Mining

Mining is the largest economic sector in the Northwest Territories, with the diamond mines generating approximately $1.7 billion in export sales. Mineral riches have attracted such international heavyweights as De Beers, BHP Billiton and Rio Tinto. There’s plenty of activity for smaller players too. Exploration expenditures are on the upswing and the search continues for base and precious metals including gold, zinc, lead, copper, silver, barium, tungsten, uranium, and iron.

Mining provides over 2500 jobs, and industry wages and salaries are the highest in Canada. The diamond mines operate on a rotational schedule, and a large proportion of their staff live with their families in Yellowknife and other northern communities.

Mining provides opportunities for many small and large businesses in the Northwest Territories, particularly in transportation, trades and construction.  Currently, three diamond mines and one tungsten mine are in operation.  There are seven advanced exploration projects, which together have the potential to generate more than $2 billion in new investment and an additional 2000 direct jobs.

Likely prospects for near term development  include:

• De Beers, Gahcho Kue - diamonds
• Tyhee, Yellowknife Gold Project
• Fortune Minerals, NICO Project - gold, cobalt, bismuth
• Avalon Resources, Thor Lake - rare earth metals