Canada hands control of rich Arctic lands to Inuit territory / Photo: Anne-Sophie THILL - AFP/File
NYSE - LSE
| RBGPF | 100% | 61.84 | $ | |
| RYCEF | -4.71% | 6.79 | $ | |
| CMSC | -0.24% | 24.55 | $ | |
| SCS | -0.75% | 13.27 | $ | |
| GSK | -2.09% | 34.39 | $ | |
| RELX | -0.37% | 45.95 | $ | |
| NGG | 0.4% | 62.37 | $ | |
| BTI | 0.2% | 35.49 | $ | |
| AZN | -0.38% | 65.04 | $ | |
| RIO | -0.31% | 60.43 | $ | |
| CMSD | -0.02% | 24.725 | $ | |
| BCC | -1.57% | 140.35 | $ | |
| VOD | -0.81% | 8.68 | $ | |
| JRI | -0.23% | 13.21 | $ | |
| BCE | -1.38% | 26.84 | $ | |
| BP | 1.65% | 29.05 | $ |
Canada hands control of rich Arctic lands to Inuit territory
Prime Minister Justin Trudeau on Thursday signed over control of resource-rich Arctic lands to the government of the predominantly Inuit territory of Nunavut, in what was billed as the largest land transfer in Canada's history.
Nunavut, at more than two million square kilometers (800,000 square miles), is almost three times the size of the US state of Texas and is believed to hold some of the richest resource deposits in the country including gold, diamonds and rare earth minerals, as well as oil and gas.
With global warming, the Arctic territory is becoming more accessible for mining and shipping.
In its capital Iqaluit, Trudeau signed a devolution agreement with Nunavut Premier P.J. Akeeagok.
It effectively gives the territorial government of Nunavut responsibility over its lands and resources, and the right to collect royalties that would otherwise go to the federal government.
"Inuit have hunted and fished and lived on these lands for generations, some going back well before recorded history. Today begins a new chapter in the history of Nunavut, a transformative chapter," Trudeau said at the signing ceremony.
"This is a place that is rich with culture, traditional knowledge, critical minerals and other resources that are needed as we build the economy of the future together," he said.
"And with this increased control, (the government and people of Nunavut) will be able to have more say and more prosperity."
The agreement comes after decades of negotiations between Nunavut and the federal government. It is to be fully implemented over the next three years.
"It's our land, our resources (now) in the hands of our people," cheered Akeeagok.
Ottawa started in the 1960s gradually transferring responsibilities for health, education, social services and other areas to its Arctic territories.
Nunavut, which was created in 1999, is the last of Canada's three Arctic territories -- after the Northwest Territories and the Yukon -- to take over full control of its lands.
D.Mertens--JdB
