Surging Demand for Minerals Key to Long-Term Growth
After a two-year roller coaster, the territorial economies are trending upward, driven by a bright outlook for many minerals extracted in Canada’s North.
March 24, 2022 • 8-min read
|Rising Mineral Production||New Mining Project||Economy Is Forecast To Grow by 5.7 per Cent.|
|The outlook for Yukon is strong thanks to rising mineral production in the coming years. Following estimated economic growth of 7.5 per cent in 2021, the economy of Yukon will expand by 7.6 per cent in 2022.||A new mining project will begin commercial production in the next few years, which, combined with rising production at another of Nunavut’s mines, will help support future economic growth.||Amid lingering pandemic-driven disruptions, the economy of the Northwest Territories mounted a partial recovery in 2021. In 2022, the economy is forecast to grow by 5.7 per cent.|
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