Canada’s Far North Poised for Turnaround, Premier Says

Canada’s sudden focus on the Arctic’s security and natural resources has come at the right moment for Premier R.J. Simpson and the Northwest Territories.

The far northern region of about 45,000 people is losing its traditional important economic engines at a rapid clip. Diamond mining, the largest segment of the economy, is in decline with Rio Tinto Group closing its Diavik diamond mine this month and Burgundy Diamond Mines Ltd. laying off several hundred workers after halting part of its Ekati operations last year. Oil production is also set to end with Imperial Oil Ltd. announcing plans to shutter its century-old Norman Wells operation later this year.