The main industries in Nunavut include arts & crafts, mining, fishing and hunting and trapping. Nunavut is known worldwide for prints and carvings. Mineral exploration and mining are growing industries, but the high cost of travelling to the territory, as well as bringing materials to Nunavut, are a challenge.

What does Nunavut contribute to Canada?

The development of mineral and petroleum resources has the potential to generate significant economic benefits for Nunavut. Over the past few years, Nunavummiut have benefited significantly from mine exploration, development and gold production.

What resources does Nunavut have?

Aside from its people, Nunavut’s greatest economic asset is its mineral wealth, which includes reserves of iron and nonferrous ores, precious metals and diamonds, and petroleum and natural gas.

Who owned Nunavut before Canada?

The creation of Nunavut was the outcome of the largest aboriginal land claims agreement between the Canadian government and the native Inuit people. The Inuit, who make up 83% of Nunavut’s 24,730 residents, will be one of the first indigenous peoples in the Americas to achieve self-government.

How much do you get paid to live in Nunavut?

Nunavut Northern Allowance The GN pays a northern allowance to make up the differences in the cost of living between Nunavut communities and larger designated southern centres. The allowance is paid based on the community of employment. Currently, it varies from $15,016 to $34,455 annually.

What kind of economy does Nunavut have?

There are several main industries that contribute to the economy of the Nunavut. These include mining, fishing, hunting, trapping, construction, and arts and crafts. Currently, mining is one of the largest private sector industries in the region. Gold, copper, and diamonds are presently the most common natural resources that are being mined.

What kind of minerals are found in Nunavut?

Gold, copper, and diamonds are presently the most common natural resources that are being mined. Lead, zinc, and silver are also mined in this region. There are plans being made to expand this particular industry in the Nunavut region. Some of the obstacles in mining is regarding the cost involved.

How many sections of territory does Nunavut have?

However, when it comes to trade with the US, Nunavut trails with only 8 sections, whereas Yukon leads with 16 sections, followed by the NWT with 9 sections (Table 1).

How much does it cost to mine gold in Nunavut?

In 2011, the cost of mineral exploration reached over $300 million as gold, diamond and base metal deposits were and continue to be explored throughout Nunavut. In 2011, 270,801 ounces of gold were produced at the Meadowbank mine at a market value of approximately $420 million.