Renewed exploration activity is needed to restore levels of investment, partnership, employment and growth in the NWT’s economy.
This work will be led by the Department of Industry, Tourism and Investment.
What we will do:
1. Attract and support both early-stage and advanced exploration projects
2. Increase local supply and production of natural gas.
3. Enhance Indigenous participation in the resource sector.
How we will do it:
1.a. Complete a review of the Mining Incentive Program and identify obstacles and new ways to support advanced projects.
1.b. Increase funding for mining incentive programs by 50% over the next four years.
2.a. Assess the feasibility of local gas supply projects and the export of Liquefied Natural Gas.
2.b. Support development of local natural gas suppliers where feasible.
3.a. In collaboration with Indigenous governments, develop and implement Regional Mineral Strategies that promote investment, and increase awareness of the NWT’s regulatory system.
How we will demonstrate progress:
1.a. Review completed and recommendation used to guide actions (Spring 2020 - Fall 2020)
1.b. Increase 10% (Winter 2020); Increase 15% (Winter 2021); Increase 15% (Winter 2022); Increase 10% (Winter 2023); and Number of early stage exploration projects increased and advanced exploration projects progressing (Winter 2023)
2.a. Review commenced (Fall 2020)
2.b. Imports of petroleum products reduced (Summer 2021 - ongoing)
3.a. Indigenous involvement, investment, and employment in the resource sector increased (Spring 2020 - Summer 2023)