Canada defines critical minerals (CM) using four essential criteria: their importance to the digital economy, the risk of supply shortages, their role in combating climate change, and their strategic value to the nation. In response to these factors, Natural Resources Canada (NRCan), in collaboration with provincial, territorial, and industry experts, has identified 34 critical minerals. To guide the country’s efforts in mining and mineral development, NRCan developed the Canadian Minerals and Metals Plan (CMMP), a strategic framework designed to secure Canada’s position in this essential sector.
Among the Canadian territories, the Northwest Territories (NWT) stands out as one of the few regions that can claim to be a producer of critical minerals. At least 24 of the 34 minerals deemed critical by NRCan have been discovered within the NWT. Six major projects are already in the early stages of mining and advanced exploration, but this represents just a fraction of the region’s true potential. The NWT’s vast untapped reserves, combined with its strategic advantages, make it a key player in Canada’s critical minerals industry.
The NWT’s competitive edge
Several factors give the NWT a competitive edge in the global race for critical minerals. These factors include a stable political and fiscal environment, a well-established legal system, and sound banking frameworks. Unlike other regions that may face instability or fluctuating regulations, the NWT offers consistency, which is crucial for investors and mining companies.
Furthermore, the NWT has a long history of mining, which has fostered a highly skilled and experienced workforce, both Indigenous and non-Indigenous. The local population is generally accepting of mining as a vital part of the economy, contributing to a positive business climate. This experience and support create a solid foundation for further development in the critical minerals sector.
The GNWT’s vision
The Government of the Northwest Territories (GNWT) has a clear vision for the future of critical minerals exploration and development. This vision is centered on promoting these opportunities in ways that benefit NWT residents and their communities, while also supporting Canada’s broader goals. These include advancing Indigenous reconciliation, implementing the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), and addressing climate change.
To achieve this vision, the GNWT is taking a multi-faceted approach. First, it aims to raise awareness and deepen understanding of critical minerals among both the public and government bodies within the NWT. By doing so, the GNWT seeks to increase local support and engagement with the sector.
Second, the government is actively marketing and promoting the NWT’s potential for critical minerals on a national and global stage. This effort includes highlighting the territory’s wealth of mineral resources, skilled labour force, and investment-friendly environment.
Third, the GNWT is working to expand its own knowledge of critical minerals. By investing in research and gathering more data about the NWT’s resources, the government aims to position the territory as a leader in this field.
Finally, the GNWT is focusing on building and strengthening partnerships with Indigenous governments, the federal government, and industry stakeholders. By collaborating closely with these groups, the GNWT can ensure that development is not only economically successful but also socially and environmentally responsible.
Pillars of opportunity
The development of these strategic pillars holds tremendous promise for the future of the NWT. Critical minerals exploration and production are on the rise, and the territory has several key advantages that make it an attractive destination for investors. These include a well-trained workforce, modern legislation that supports sustainable development, and ongoing infrastructure projects that will improve access to remote mining sites.
In addition, the NWT has a proven track record of responsible environmental and socio-economic management. This history of balancing development with environmental stewardship makes the region particularly appealing to companies and investors with a strong focus on Environmental, Social, and Governance (ESG) principles.
Indigenous partnerships are another cornerstone of the NWT’s approach to critical minerals development. By working closely with Indigenous communities, the GNWT is ensuring that economic benefits are shared and that development respects local rights and traditions. This collaborative approach strengthens Canada’s commitment to Indigenous reconciliation while promoting sustainable growth.
A pivotal moment
The NWT’s rich reserves of critical minerals, combined with its strategic advantages, place it in a pivotal position to become a leading supplier of these vital resources to the world. With rising global demand for critical minerals to power the green economy and technological innovations, the NWT has the potential to play a crucial role in Canada’s efforts to secure a reliable, sustainable supply of these materials.
The GNWT’s focus on responsible development, Indigenous partnerships, and environmental sustainability aligns with global trends toward ESG-conscious investing. This makes the territory an attractive destination for project developers and investors seeking long-term value.
As the world moves toward a low-carbon future, critical minerals will be essential for everything from renewable energy technologies to electric vehicles. The NWT, with its vast mineral resources and commitment to sustainable development, is well-positioned to meet this demand and contribute to Canada’s leadership in the global critical minerals market.
In conclusion, the NWT’s critical minerals strategy offers a unique opportunity for economic growth, environmental stewardship, and Indigenous reconciliation. By leveraging its competitive advantages, building strong partnerships, and focusing on sustainable development, the NWT can secure its place as a key player in the critical minerals industry, benefiting the territory, Canada, and its allies and trade partners.
