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TuesdayJanuary2720157INDUSTRYINTERNATIONALTRADETerritoryhopestodressJapaneseChinesetotheninesGNWTlookingforlong-termeconomicgrowthwithdiamondsandfursByMEAGANWOHLBERGTheNorthwestTerritoriesdeedthedown-wardtrendofdeclininginvestmentsinmineralexplorationacrossCanadalastyearseeinga32percentincreaseinspendingin2014accord-ingtoNaturalResourcesCanadaNRCanes-timatesreleasedlastweek.Over102millionwasspentintheNWTlastyearonexplorationanddepositappraisalscomparedtoalmost78millionin2013withthemajority66millionspentondiamonds.Juniorcompaniesout-spentmajorcompaniesslightlyaccountingfor55percentoftotalin-vestmentsintheNWT.TheestimateswerentasrosyfortherestoftheNorthhoweverwithNunavutseeingitsthirdconsecutivedropsinceawhopping535millionwasspentonexplorationtherein2011.AccordingtoNRCanNunavutsawjust148.1millionininvestmentlastyear-adecreaseof110millionor43percentfrom2013.Thevastma-jorityofspendingtherewasonpreciousmetals.LikewisespendingintheYukonisestimatedat87.9millionor13million13percentdownfromtheyearpreviouswithoverhalfspentonbasemetals52millionandpreciousmetals35million.DespitethedropNunavutremainsfthinthecountryformineralexplorationspendingwhiletheNWTandYukonhavechangedposi-tions-theNWTrisingtosixthplaceandtheYukonfallingtoeighth.ThegeneraldownwardtrendisreectedacrossCanadawheretotalexpenditureestimatesshowadecreaseto2.12billionin2014down232.5million10percentfrom2013.Theestimatesshowjuniorcompaniesleadingthechargeacrossthecountryaccountingfor1.3billionor63percentoftotalexpenditures.NWTNunavutChamberofMinespresi-dentBrookeClementssaidthenumbersindicatechallengingtimesforexplorationandminingprojectsinCanada.Stillhesaidthereisopti-mismabouttheindustryintheNorth.Nunavutaddedanewironminetoitsecon-omyin2014andconstructioncommencedonanewdiamondmineintheNWTClementssaid.Bothterritorieshaveadditionaladvanced-stageexplorationanddevelopmentprojectshoweverwecontinuetofaceinvestmentchallengesalongwithmuchoftherestoftheworld.HesaidthechamberwillcontinueencouragingfederalterritorialandAboriginalgovernmentstotakestepstoattractinvestmenttothisveryimportantsectorfortheNortherneconomy.Mineralexplorationspendingrises32percentinNWTINDUSTRYMININGByDALICARMICHAELThepremierandhisentouragehavereturnedfromtheir11-daytriptoAsiawherethesaleofluxurygoodsfromtheNWTtoJapanandChinadominatedmanyeconomicdiscussions.Amidmeetingswherethetradepartnersad-dressedavarietyofinvestmentopportunitiesincludinggasoilandtourismitwasthepro-motionoftheterritoryswearableamenitiesofdiamondsandfurthatstoletheshowandcaughtmanysattention.TheNWTcanprovidetheluxurygoodsAsiancustomersareshoppingforPremierBobMcLeodsaidmatter-of-factly.WhileinBeijingvisitingmembersoftheGNWT-thefoundersoftheFurInstituteofCanadaFIC-putforthaproposedMemo-randumofUnderstandingbetweentheFICandtheChinesePeoplesAssociationforFriendshipwithForeignCountriesCPAFFC.TheproposedagreementwouldrequireChineseindustriestouseeducationalandpromotionalproductsdevelopedinCanadatoimproveperceptionsandtradeoffurproductswithintheChinesemarketplace.Thepotentialvalueofthismarketforourresidentsandcommunitiesisimmense.Ourtraditionalharvestingpracticesareamarket-ingadvantageforNWTwildfursaidIndus-tryTourismandInvestmentMinisterDavidRamsaywhoendorsedthememorandumtoCPAFFCchairmanYaoMingyuandvicechair-manHuSishe.InanaddresstomembersoftheCPAFFCMcLeodstatedoneoftheGNWTsprioritiesistoworkcooperativelytoensurethatfuturegen-erationsofconsumersrealizethesustainableandresponsibleapproachusedinCanadianAboriginaltraditionalharvestingpractices.Hefurtherappealedtothemstatingthatcoopera-tionwouldensureChineseconsumersasteadylong-termsupplyofhigh-endCanadiancom-moditieslikeGenuineMackenzieValleyFurs.Chinaisthelargestimporteroffurintheworldwithover80percentoffur-relatedpur-chasesmanufacturingandre-exportingofn-ishedproducts.AccordingtotheGNWTthepromotionofNWTwildfurundertheGenuineMackenzieValleyFurslabelwasatopobjectiveofthetrademission.Thepromotionofdiamondswasanotherhighpriorityforthecrew.WorldwidedemandfordiamondsisexpectedtoexceedavailableproductionincomingyearsatthesametimeasCanadianproductionisex-pectedtodoubleRamsaysaid.PromotingNWTdiamondsinhugemarketslikeChinaandJapanwillensureourproductistop-of-mindforinternationalconsumersandhelpsecureincreasedmarketsharegrowingtheNWTdiamondindustryandoureconomyalongwithit.TravelingmembersoftheGNWTsentthesamemessagewhileattendingtheShanghaiDiamondExchangeandtouringthroughlocalshopsalreadysellingpreciousmineralsfromYellowknife.Tourismtopsoutin2014AnothermainobjectiveforthepremierandhistroupewastoincreaseChineseandJapa-neseawarenessoftourismopportunitiesintheNWT.OurtouroperatorshavenotedanincreaseinvisitorsfrombothChinaandJapanspeci-callyMcLeodsaid.WehaveseenthenumberoftouroperatorsprovidingservicesforChineseAuroravisitorsincreasingandAuroratourismandvisitationintheNWThavehitrecordhighsin2013and2014.WealsoraisedtheproleofsomeuniqueNWTtourismproductslikeDes-tinationDeline.AspecialeventheldbytheNWTinTokyoalsodrewamuchattentionfromJapaneseinvestors.TheCanadianambassadortoJapansaidourNWTgalawasthehighlightoftheactivitiesattheembassyoverthepastcoupleyearsMcLeodsaid.WealsometwithanumberofcompaniesanddeterminedthatthereisaverysignicantincreaseininvestingaswellfromJapan.InvestinginimmigrationandliquidgoldAnewinitiativeoftheAsiatourthisyearin-cludedafocusonincreasingimmigrationfromChinaandJapantotheNWT.McLeodsaidlead-ersfromthetwocountriesmettheideawithmuchinterestbutimpliedtherewouldbesev-eralconditions.TheyindicatedthatifwewantedtoincreaseimmigrationitdbeamatterofhowfarwewanttogoMcLeodsaid.Theysaidtheyrepreparedtobuildinfrastructureonourbehalf.TohaveusrepaytheywanttobeabletobidonjobsbuttheywanttohavetheirownChineseworkerscomingalong.Wetoldthemwewant2000im-migrantsoverveyearsandtheysaidtheydbewillingtosetupinvestmentfundsandevengoasfarasbuildhousesandhaveChinesepeoplecomeover.OneofthemajorresourcesbothJapaneseandChinesearelookingintointheNWTarefossilfuelsMcLeodnoted.SometimeinJuneheexpectsadelegationofChinesegasandoilindustrymemberstovisittheterritorytofur-therexamineinvestmentpossibilities.Japanesebusinessesaresurelysoontofol-lowbuildingoffajointrelationshipestablishedwhentheyandtheNWTstartedworkingontheMallikGasHydrateprojecttogetherinthelate1990s.CurrentlytheGNWTismullingalloftheseoffersofinvestmentaccordingtoMcLeod.Ateamhasbeenspecicallyassignedtoes-tablishaChinastrategynailingoutexactlyhowfartheyarewillingtogotomeettheneedsoftheterritoryandthewantsoffor-eigninvestors.PhotocourtesyoftheCounciloftheFederationPremierBobMcLeodsaysthismonthstriptoAsiawasasuccessfulpromotionoftheterritory.NunavutandtheNWThaveadditionaladvanced-stageexplorationandde-velopmentprojectshow-everwecontinuetofaceinvestmentchallengesalongwithmuchoftherestoftheworld.BrookeClementsNWTNunavutChamberofMines