Funding unveiled for mining investment event
The federal government is investing $500,000 in an Invest Canada North initiative at a large prospecting convention this spring.
By Whitehorse Star on January 20, 2020
The federal government is investing $500,000 in an Invest Canada North initiative at a large prospecting convention this spring.
Yukon MP Larry Bagnell made the announcement on behalf of the Canadian Northern Economic Development Agency (CanNor) in Vancouver over the weekend.
The two-day northern-focused event will take place within the Prospectors and Developers Association of Canada Convention in Toronto.
“This project demonstrates the clear strategic advantages of partnership and collaborations in the North among industry, governments, service sectors and Indigenous development corporations to promote investment in the territories,” Bagnell said.
“Increased investment in the North benefits all northerners.”
Invest Canada North will be hosted in partnership with the Yukon Mining Alliance, N.W.T. and Nunavut Chamber of Mines and the three territorial governments.
It will consist of “an exclusive networking reception” of food and entertainment inspired by northern culture and a forum that will inform attendees of the investment opportunities in the North.
There will also be the opportunity to interview exploration stakeholders: mineral and mining companies, government officials, Indigenous development corporations, and others.
The conference will kick off on March 1 with a premier networking reception. Attendees will be invited to try the Yukon’s Sourtoe Cocktail, and there will be an Inuit throat singing performance.
The single-day forum will take place on March 2. It will include a keynote presentation by Anmar Al-Joundi, the president of Agnico Eagle Mines.
The three territories will each host individual forums throughout the day.
Byron King, the editor of Agora Financial, and Andrijana Djokic, the CEO of the Na-Cho Nyak Dün Development Corp., will moderate the Yukon’s forum mid-morning.
There will be a fourth forum entitled “Environmental Social Governance” which will explore the future of mining in the changing environmental landscape.
In a press release issued this morning, Premier Sandy Silver expressed optimism for the conference’s potential for attracting mining investment Northward.
“Yukon is a great place to invest,” Silver said.
“This strategic initiative will raise the investment profile of Canada’s North on the global stage and advance our mineral industry.”
Anne Turner, the Yukon Mining Alliance’s executive director, said the conference will bring attention to the territory’s undiscovered resources.
“Invest Canada North will connect global investors with the significant untapped mineral potential, strong geopolitical stability and progressive Indigenous and community partnerships found in Canada’s North,” Turner said.
The Prospectors and Developers Association of Canada Convention will take place March 1-4.
Last year, the Toronto conference attracted 25,000 attendees from 132 countries.
Comments (11)
Up 5 Down 4
Mick on Jan 24, 2020 at 6:17 pm
@Brian
Good. We don’t want any resource companies coming here that won’t meet our employment and environmental standards. That stuff in the ground isn’t going anywhere anytime soon. When it does, it’ll be on our terms as Yukoners not on their terms as money makers for their shareholders.
Up 4 Down 7
Apex Parasite on Jan 24, 2020 at 7:56 am
$500,000 dollars of our taxes to invest in mining that ultimately represents making rich people, richer, paying lower taxes, while we consider our selves lucky to see some short term jobs to allow us to pay ever more in taxes that in turn get used in ways that we have no real say over aside from voting for the bigger pile of crap dropped by essentially the same dog.
Seems to me the big players that stand to carry off the biggest bones should be the ones paying for these "investment" opportunities. Truthfully even that would be repugnant but better that than out of my pocket.
Up 13 Down 17
Oya on Jan 22, 2020 at 9:19 am
Yes, we need another Wolverine mine owned by the Chinese - or maybe the Russians this time.... where the creation of a few short-term jobs for Yukoners takes precedent over human rights, safety, the environment.
Up 14 Down 8
Woodcutter on Jan 22, 2020 at 8:30 am
Another splash of corporate welfare.
Up 13 Down 3
Max Mack on Jan 21, 2020 at 10:06 pm
"Indigenous development corporations".
So, $500K for?
Up 17 Down 10
Groucho d'North on Jan 21, 2020 at 3:23 pm
I wonder how much tax-payer funding they are providing to the Anti-mining groups? In many cases these funding agreements are not reported the same way...it's much more hush hush.
Up 14 Down 15
Wilf Carter on Jan 21, 2020 at 11:47 am
This is interesting and sound great? Trudeau purchased donuts at their retreat in Manitoba for only $4 each. Will they serve those here?
Up 23 Down 20
BnR on Jan 21, 2020 at 7:49 am
Taxpayers fêting the mining industry.
Taxpayers paying for the infrastructure (CanTung road upgrade)
Taxpayers footing the bill for the cleanups.
Heck of a deal I’d say.
Up 12 Down 7
My Opinion on Jan 20, 2020 at 6:31 pm
Good idea. But we will see.
Up 20 Down 12
Brian on Jan 20, 2020 at 4:58 pm
Huh, 51.79% of the Yukon is currently Off Limits to mineral staking.
New ORV rules coming in will limit ability to access areas not currently staked,
Funny, at Round Up in Vancouver, Yukon has been a swear word, many big players have pulled out and many will not even come.
At the end of the day it’s about profits and when your forced to hire from a local source, overpay hourly rates to compete with Government jobs and need consultants, biologists, lawyers, plus go through the hoops to get licensing and the uphill fight to keep people from pilfering your camp on your claims.
I guess Corporations that need write offs would, as they say, Invest here.
It’s a Boom and Bust industry, so are we headed into a Boom again?
See come June.
Up 23 Down 16
Wes on Jan 20, 2020 at 4:53 pm
Maybe take the $500K and put it in a fund for future cleanups and remediation.