NWT doles out exploration grants as diamond activity heats up – mining.com

September 28, 2014

Northwest Territories, the northern Canadian region known for diamond mining, is giving a leg up to exploration companies through an incentive program it first rolled out in June.

The Mining Incentive Program (MIP) provides funds to eligible prospectors and exploration companies that are already engaged in mining exploration projects or proposing new projects in the NWT.

“Mineral exploration and environmentally sustainable development are an integral part of our economy, but investment in the NWT has been declining in recent years,” NWT Minister of Industry, Tourism and Investment David Ramsay said in a press release announcing the MIP, which is modelled on other successful exploration incentive programs in Canada, including the Yukon Territory. “The Mining Incentive Program is an important step towards attracting new investment and encouraging grass-roots mining exploration, which is essential for ensuring the long-term growth of the mining industry.”

Read More: http://www.mining.com/nwt-doles-out-exploration-grants-as-diamond-activity-heats-up-65568/