| |
| Background |
 Kitikmeot
Corporation is not directly involved in mining and exploration
in the Kitikmeot Region of Nunavut, but rather, indirectly involved
through the provision of services to the industry. In fact, the
latter occurs via certain of our joint venture companies that
participate in this sector (please refer to the listing below).
Because
Kitikmeot Corporation's investment policy requires that we 'safeguard'
the investment capital of the Inuit beneficiaries of our Region,
a direct investment in an exploration company, for example, would
not be possible. However we recognize that the industry is growing
rapidly, especially in our Region, and we want to be an active
participant. We achieve this by being a service provider, as
opposed to a direct investor. |
| |
| Mining and exploration in the Region is currently our fastest
growing industry, and the one with the most potential to provide
training and employment opportunities for the Inuit of the Kitikmeot.
And given the technological advancements that have occurred in
the industry, the spectrum of employment opportunities now spans
a much wider range, including positions that require advanced
computer technology skills and solid mechanical and/or industrial
training. In many ways, the sector offers our beneficiaries a
number of very ideal employment opportunities. |
| |
| Our Mining-Related Joint
Venture Companies |
| Kitikmeot Corporation has either
controlling interest, or a strong shareholding position in a
number of mining and exploration-related joint venture companies.
Additional information on each of these is available elsewhere
on this site, however a brief summary is provided below. |
| |
| Nuna Logistics |
| Nuna Logistics's
majority (51%) ownership position is held equally by Nunasi Corporation
and Kitikmeot Corporation. The third shareholder is Pilot Shipping. |
| |
| Nuna Logistics builds roads and infrastructure
for the mining industry in the Western Arctic. Nuna Logistics
also maintains the vital winter ice road serving the many northern
mining operations, as well as providing contracting services
to various mining companies, specializing in infrastructure construction
and maintenance. |
| |
| Kitikmeot Caterers |
| Kitikmeot Caterers is a joint venture
between Kitikmeot Corporation and Horizon North Logistics, established
to provide camp catering services to the mining and exploration
sector, in both the NWT and Nunavut, as well as housekeeping
and janitorial services for remote camps. |
| |
| Kitikmeot Explosives |
| Kitikmeot Explosives
was established to provide packaged and bulk explosives, detonating
systems, blasting accessories, as well as industrial, safety
and oil field related supplies, to mining and exploration companies
located in Nunavut. |
| |
| Kitikmeot Cementation Mining and Development |
| Kitikmeot Cementation Mining and Development (KCMD)
is a joint-venture company which was established in 2005 with Cementation Canada,
a leader in the underground mining services sector. |
| |
| Our objective in establishing this
joint venture was to formalize a long-term business relationship
pertaining to the establishment of an underground mining services
company, capitalizing on existing and future mining opportunities
arising in the growing diamond and metal mining industries in
the Northwest Territories and Nunavut. |
| |
| KCMD’s main focus is at the Diavik Diamond
Mine where it recently completed a multi-year contract for the construction
of underground exploratory declines, followed by additional construction
pertaining to development of the underground infrastructure.
KCMD looks toward continued involvement at Diavik based on Rio Tinto’s
schedule for the continuation of underground mining. |
| |
| Kitnuna Corporation |
|
A 100% Inuit-owned joint venture between Kitikmeot Corporation and Nunasi Corporation, with its base of operations in Cambridge Bay, providing various services including site remediation, CAT trains, earthworks, fuel distribution, airport maintenance, and expediting. |
| |
| Toromont Arctic Caterpillar |
|
The Caterpillar dealer for Nunavut, selling and servicing heavy equipment. |
| |
| Medic North Nunavut |
|
A joint venture between Medic North Emergency Services Ltd. of Yellowknife, and Kitikmeot Corporation, providing emergency medical services to mining, exploration and other remote sites in the Kitikmeot Region, and elsewhere in Nunavut. |
| |
| Ryfan Nunavut Inc. |
This is a joint venture between Ryfan Electric, Nunasi Corporation, and Kitikmeot Corporation. The company's focus is on the provision of industrial electrical and mechanical services to the mining (and various other) sectors right across Nunavut. |
| |
| Other mining-related companies include DICAN, the Canadian Goverment diamond valuator for NWT and Nunavut, and I&D Management which provides employees to mining projects. All of the above companies are described in more detail elsewhere on this site. |
| |
| Bathurst Inlet Road & Port
Project |
| Many of the mineral deposits in the
Kitikmeot are “land locked”, and this is especially
true of many of our base metal deposits. However, the cost of
developing and operating mines in both the diamond and gold sectors
are also impacted by the remoteness of our Region, although to
a much lesser extent. |
| |
| The concept of an all-weather road
that would (at a minimum) link Contwoyto Lake to a port at Bathurst
Inlet has been under development for a number of years. Such
a development would stimulate exploration and mining development
in our Region making many deposits, that are not currently economically
viable, somewhat more feasible. If these indeed reached the mine
development stage, the impact on the economy of both the Kitikmeot
Region, and of the Nunavut territory, would be significant. A
substantial number of mine training and employment opportunities
for the Inuit in our Region would also result. |
| |
| Summary of Mining and Exploration
Activity in Our Region |
| For
specific information on mining and exploration activity in
our Region, click here. |
