Mining Incentive Program Aims to Stimulate Mining Industry in NWT

March 20, 2019

Mining Incentive Program Aims to Stimulate Mining Industry in NWT

The Government of the Northwest Territories (the “GNWT“) Mining Incentive Program (the “Program“) provides funding to prospectors and exploration companies who carry out mineral exploration work in the NWT.

Under the Program, mineral exploration companies licenced to operate in the NWT can apply for up to $200,000 in funding and prospectors licenced to operate in the NWT can apply for up to $25,000 in funding.  Exploration companies are eligible to receive up to $500,000 in funding over consecutive years of the Program participation.

Any mining exploration company interested in carrying out mineral exploration work in the NWT or one that is already carrying out mineral exploration work in the NWT should apply for funding under the Program. The 2019-2020 Program application deadline is April 26, 2019. Eligible expenses for reimbursement under the Program are those incurred during the period April 1st, 2019 to March 31st, 2020.

Applicants for the Mining Incentive Program may only submit proposals for areas in which they have the legal right to         conduct exploration and must have a valid prospecting license in the NWT. In addition, corporate applicants must propose a well-conceived and technically-sound exploration program to be considered for funding. Pursuant to the program funding guidelines, preference will be given to applications that maximize the use of NWT goods and services.  All applications received are reviewed and considered by the staff of the Northwest Territories Geological Survey.

In 2018, the GNWT award funding to the following companies:

Applicant Region Commodity Funding Awarded
TerraX – Quyta Bell North Salve Gold $160,000
Evrim – Mackenzie Alliance Shatu Gold $160,000
Margaret Lake Diamonds ML Project North Slave Diamonds $140,000
Margaret Lake Diamonds Diagras North Slave Diamonds $111,615
Canadian Zinc – Prairie Creek Sahtu Zinc $51,400
North Arrow North Slave Diamonds $100,000
Avalon- Nechalacho North Slave Rare Earth $36,552
Silver Range – Granite Recce North Slave Gold 10,012
GGL – Bishop North Slave Diamonds $84,469

The Mineral Incentive Program is intended to stimulate further mineral exploration in the NWT and reduce the risks associated with mineral exploration activities. The Mineral Incentive Program is just one part of the Northwest Territories Mineral Development Strategy which includes among other items certain tax deductions.

Field Law has significant experience in mining law in the NWT and Nunavut. Whether it’s buying or selling mining assets in the NWT or Nunavut, raising capital to fund your mining operations, or navigating the mining regulations our experienced team of northern business lawyers are here to help you dig.

Mark Mielke

Mark Mielke

Mark Mielke is an Alberta lawyer who works with business owners, large financial institutions, and small and mid-sized corporations to provide efficient legal solutions. Mark provides excellent customer service on a broad variety of matters including: asset and share purchase transactions, assisting corporations with raising capital, mergers, amalgamations and reorganizations, unanimous shareholder agreements, incorporations, corporate governance and contract review. Mark has worked with small and mid-sized private and public issuers on securities related matters including the preparation of information circulars, continuous disclosure, general securities and corporate compliance. Prior to attending law school, Mark completed a Master’s Degree in Urban Economic Development (with Distinction) at the University College of London. Mark gained research experience performing rental market analysis for the Greater London Authority and collecting data on electrical infrastructure for the Government of Ethiopia.

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