Following a revision of the Mining Incentive Program (MIP) to enhance support and emphasis on public safety, the Department of Industry Tourism and Investment (ITI) has selected 20 mineral exploration projects to receive program funding for 2020-21.
The 20 projects will benefit from the $1 million in total program funding. The successful projects were selected from 28 applications, which marks a continuing interest in NWT mineral exploration despite the significant challenges faced this year by the industry.
The program, now in its seventh year, invests in mineral projects across the NWT that are well conceived, support innovative ideas and methods, and have the best potential to stimulate economic activity. The MIP is administered by the NWT Geological Survey, a division of ITI.
This year, the maximum funding available for corporate projects was increased from 50 percent to 60 percent of eligible expenses and several COVID-related costs were made eligible. Project compliance with public health orders and proposed NWT spending were both carefully scrutinized during review and scoring of applications.
From 2014 to 2019, the MIP invested approximately $3 million into NWT mineral exploration projects with the result of nearly $15 million in total spending from funded projects.
The funded MIP projects for 2020-21 are listed below in the backgrounder document.