Mineral production has increased significantly to over $2B in the Northwest Territories, and continues to increase to nearly $850M in Nunavut according to recently released Federal government statistics.
Preliminary estimates for 2017 mineral production posted by Natural Resources Canada show that the total value of NWT mining production is $2.070B, up $563M (30%) from $1.507B in 2016. Of this:
- Diamond production accounts for nearly the entire value at $2.060 billion, up $574 million (39%) from $1.486 billion; and
- With no other minerals produced in the NWT, sand, gravel, and stone production value accounts for the remaining $10.5 million
In Nunavut, the total value of mining production for 2017 is estimated at $844M, up $144M (21%) from $700 million in 2016. Of this:
- Gold production value is $594 million, up $88M (17%) from $506M in 2016;
- Silver production value is $0.6M, down $4.4M (88%) from $5.0M last year; and
- Iron ore is estimated at $250M, up $61M (32%) from $189M last year.
In Canada, preliminary estimates for 2017 production are $43.904B, an increase of $2.860B (7%) from $41.044B in 2016.
“The Gahcho Kué diamond mine, by reaching commercial production in 2017 and surpassing its total carat target, played a big part in the NWT increase to over $2B, a value we haven’t seen since 2011,” said Chamber of Mines President Gary Vivian.
“In Nunavut, the numbers are up from increased gold and iron ore production, and this is encouraging given that in 2009, Nunavut had zero mineral production.”
(Source: NWT & Nunavut Chamber of Mines)