Mineral Exploration and Mining in Nunavut
Mineral exploration expenditure in 2006 approached $200 million in Nunavut, with spending from over 60 ongoing exploration projects. Nunavut ranks in the top five of Canadian provinces and territories in exploration expenditures, and is the highest north of 60°. Diamonds, gold, uranium and base metals are the main exploration targets.
The Jericho diamond project, the territory's first diamond mine, opened in August 2006. The Meadowbank gold project near Baker Lake begins construction in 2007. Another gold project, Doris North, has been approved for construction. In total five new mines are expected to be operating in Nunavut by 2010, adding $500 million to our GDP annually, and creating 1,700 new jobs.
