The Northwest Territories is set to promote its mining potential at an upcoming international investment summit, with Premier R.J. Simpson saying the territory’s focus will be on securing support for critical minerals projects.
The Canada Investment Summit, organized by Prime Minister Mark Carney, is scheduled to take place in Toronto on Sept. 14 and 15. The invitation-only event will bring together global investors, Canadian business leaders, and political representatives from every province and territory. Organizers say the gathering is meant to showcase more than 160 potential projects across the country seeking investment, with the federal government aiming for the summit to help attract $1 trillion in investment into Canada over the next five years.
Simpson and Caitlin Cleveland, the territory’s minister of industry, tourism and investment, will attend to promote the N.W.T.’s resource projects. Simpson said the territory has a wide range of advanced mineral opportunities to offer, including critical minerals as well as gold and silver deposits.
According to Simpson, roughly half a dozen companies with projects in the territory are positioned to potentially secure funding through the summit. Among them is Honey Badger Silver, which is working toward launching operations as early as next year at its Prairie Creek lead-zinc-silver mine, also known as PC Silver, located in a carve-out area within Nahanni National Park Reserve. Simpson described the project as one of the territory’s most advanced, noting that its environmental assessment and permitting work has already been completed. He said the project could move forward quickly with additional capital.
Other N.W.T. mining projects included in the summit’s project prospectus, which was obtained by CBC, include the NICO Mineral Reserves mine, the Yellowknife Lithium Project, the Nechalacho rare earth mine, and the Pine Point mine development project.
The summit is expected to draw investors from the United States, Europe, Asia and the Middle East, who will be presented with details on 167 projects across Canada seeking investment.
N.W.T. Finance Minister Caroline Wawzonek said the territory is hoping that attention around major infrastructure initiatives, such as the Mackenzie Valley Highway, will help generate the investment needed to advance new mining projects. Also under consideration at the summit is Nunavut’s Grays Bay Road and Port Project, which is intended to connect with the N.W.T.’s Arctic Economic and Security Corridor.
Simpson said such infrastructure projects play a key role in enabling future investment by reducing the cost of doing business in the territory. He noted that mineral exploration work is often constrained by seasonal travel limitations, which can make projects more expensive and difficult to carry out. Advancing major infrastructure, he said, would help lower those barriers.
Simpson also said he intends to highlight the territory’s regulatory co-management arrangements with Indigenous governments at the summit, suggesting that many investors are looking for jurisdictions with similar frameworks to help ensure mining development proceeds in an ethical and sustainable manner.
He added that investment in the territory’s resource sector is expected to come with benefits for local communities, including agreements with First Nations, job opportunities, and training programs for territory residents. Simpson said the N.W.T.’s natural resources, from natural gas to minerals, represent an abundance that many countries would envy.
This article is for informational purposes only and does not constitute financial, investment, or legal advice. Consult a licensed financial advisor before making investment decisions.
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