Mr. Speaker, we have great rocks. The global demand for critical minerals continues to grow, and the Northwest Territories is well-positioned to play a key role in supplying these essential resources to Canada and its allies. With over two-thirds of the critical minerals listed by Canada, and almost half identified by the United States, our territory is a significant contributor to securing a stable and responsible supply of materials vital to clean energy, advanced manufacturing, and digital technologies.
Recognizing the opportunity before us, the Government of the Northwest Territories outlined four key priority areas for critical minerals development:
First, increasing public awareness about the importance of critical minerals. By incorporating critical minerals into educational programs and industry outreach initiatives, like NWT Mining Week and Mining Matters, we are ensuring that residents, including youth, understand the opportunities this sector presents.
Second, attracting investors and industry leaders through participation in key industry events like the Yellowknife Geoscience Forum, Roundup in Vancouver, and the Prospectors and Developers Association of Canada conference in Toronto, and our targeted promotional campaigns such as the newly announced federal investment of up to $420,000 to the governments of Yukon, Northwest Territories, and Nunavut to support Invest North of 60.
Invest North of 60 is a collaborative project between the territorial governments to attract investment and strengthen the growth of the mining sector in the North through strategic promotional activities at leading industry events to actively position the NWT as a premier jurisdiction for responsible resource development.
Third, investing in geoscience and regulatory improvements to provide investors with the certainty they need to move projects forward. By applying new technologies to unexplored or under-mapped areas, we are strengthening our knowledge base and improving our ability to support mineral exploration and development. In addition, we are exploring the concept of a collaboration office; a place where GNWT departments, land and water boards, and the federal government could offer a one-stop shop so proponents can have better wrap-around support to pathfinding through our regulatory processes.
Finally, building and strengthening relationships with Indigenous governments, industry, and the federal government. Through initiatives like the regional energy and resource table, the Mackenzie Valley operation dialogue, and the collaborative efforts at key mining events, we are working collaboratively to streamline regulatory processes, develop infrastructure, and create an environment where responsible development can thrive.
Mr. Speaker, I am proud to highlight several advanced critical minerals projects in the Northwest Territories that are making impressive strides.
The Pine Point Project has the cleanest zinc concentrate globally and is moving closer to becoming a reality, with investors showing strong interest. This project represents a significant opportunity to supply vital materials for clean energy and other industries.
The Prairie Creek Project stands out as the highest-grade unmined zinc deposit that has already attracted substantial federal investment in transportation infrastructure. This investment represents a big win for our economy and Canada's critical minerals strategy.
The NICO Project, which has the largest primary cobalt deposit in the western world, as well as one million ounces of gold, is another prime example of our mineral potential. With financial support from both Canada and the United States, this project will put the Northwest Territories front and center in North America's critical minerals supply chain.
The Nechalacho Project is putting the Northwest Territories on the map as Canada's first rare earth mine. These rare earth elements are key to defence, electronics, and clean energy technology technologies.
Lastly, the Mactung Project is one of the largest and highest-grade known tungsten deposits on the planet. With funding secured through the U.S. Defence Production Act, this project underscores how important the Northwest Territories is for supporting supply chains in North America.
Mr. Speaker, these projects, along with growing exploration for lithium and other critical minerals, show that the NWT is an attractive destination for responsible resource development. But to make the most of these opportunities, we must tackle a few challenges. Improving regulatory efficiency, expanding strategic infrastructure, and ensuring our workforce has the skills to support this industry are essential. That is why our government continues to work closely with our federal partners, Indigenous governments, and industry leaders to push for more geoscience funding, closing the infrastructure gap with southern Canada, and targeted incentives such as the North of 60 mineral exploration tax credit.
Mr. Speaker, critical minerals are more than an economic opportunity for the Northwest Territories; they are key to Canada's national security and long-term prosperity. By attracting investment, strengthening partnerships, and promoting responsible development, we are creating new opportunities for a strong future for our residents, our economy, and the generations to come.
Thank you, Mr. Speaker.