Yahoo! News – Nunavut prospecting rush more good news for eastern Arctic mining sector: “The results exceeded all expectations.
In all, 1,518 permits were issued – almost eight times last year’s total.
‘It’s a huge area we’re talking about,’ said McLean. ‘That’s twice the size of Nova Scotia, Prince Edward Island and New Brunswick – combined.’
The companies now have up to five years to examine their territories and stake specific claims. They are legally required to spend at least $6.3 million a year on exploration, but Jason Sharp of Indian Affairs expects the total to be much higher.
In 2003, mining companies spent about $83 million exploring in Nunavut, with about 20 per cent of that being spent locally. “