The value of Nunavut’s mineral production grew in 2019, driven by the addition of the Meliadine gold mine and a slight increase in iron ore production.
That’s according to the NWT and Nunavut Chamber of Mines’ analysis of the latest Natural Resources Canada statistics. These show gold production up by 43 per cent and iron ore production up by more than five per cent in Nunavut.
This production growth means an increase in revenues for Nunavut of almost 27 per cent or roughly $279 million more than in 2018. Overall, Natural Resources Canada estimates 2019 mineral production in Nunavut brought in gross revenues of $1.3 billion.
“For Nunavut, the biggest contributing commodity is gold, with ramp-up of the Meliadine mine during the year, combined with a steady to strengthening gold price,” Ken Armstrong, the president of the NWT and Nunavut Chamber of Mines, said in a news release.
Nunavut’s operating mines are Agnico Eagle Mines Ltd.’s Meadowbank-Amaruq and Meliadine, TMAC Resources Inc.’s Hope Bay complex and Baffinland Iron Mines Corp.’s Mary River.
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