Thanks, Lou.
I'm going to cover land claims and a few points on regulatory issues and then conclusions.
In Nunavut about 80% of the population is Inuit, and the land claim agreements were signed in 1993. Since then, industry has been actively engaged with the Inuit on their wholly owned lands, and several very successful benefit agreements have ensured employment, training, and business opportunities that flow to the Nunavut residents. We have seen a downturn in the major mining centres in Nunavut since 2000, such as the closure of the Nanisivik, the Polaris, and the Lupin mines. We have seen an exploration upswing. Last year more than $200 million was spent in the Nunavut Territory alone. Of course we have had a recent meltdown, but exploration is continuing. The Hope Bay and Meadowbank gold mines as well as the Baffinland iron mine are currently being developed. There are lots of other new excitements on the scene in Nunavut. That's the settled part of the two territories.
In the Northwest Territories about half the population is aboriginal, and there are four settled land claims. There are still two areas that remain to be settled. The Chamber of Mines believe that this is an important initiative to make progress on these claims and reach fair settlements. Not only will this provide comfort to the aboriginal people involved, but it will also clarify land ownership issues and greatly assist both the residents and the mining industry to form the necessary agreements to move these territories forward.
In order to maintain a positive investment climate for northern development and aboriginal participation, we need to talk about the regulatory environment. In the north this regulatory environment is complex. The NWT and Nunavut Chamber of Mines have consistently made it a priority to take a useful role in bettering the regulatory process for mineral exploration and mine development in the NWT and Nunavut by actively participating in a development and review of the applicable legal and regulatory structures.
Examples include our submissions to the northern regulatory improvement initiative study, authored by Neil McCrank, plus the recent Nunavut Land Use Planning and Assessment Act. I'd like to highlight a few of our conclusions that were included in the joint industry submission to the McCrank review.
Firstly, on board capacity, we need to ensure that the boards have structured plans for orientation, training, and continued education for each board member who is appointed.
Also, on aboriginal and community consultation, there is a need for clarity with respect to this issue.
Impact and benefit agreements continue to present significant challenges for proponents, communities, and regulators alike. The chamber believes an official policy on the scope, nature, and purpose of these agreements would clarify the overall process.
Also, adequate resources should be made available for legislative processes. We've recently seen a draft of the Nunavut Land Use Planning and Impact Assessment Act. We're very happy to see this move ahead, but we need to qualify that due consultation and consideration for the necessary amendments need to be included. This will need time and resources allocated, because the process is complex and challenging.
We also support what the previous speakers have talked about with respect to land use planning. Government needs to take a balanced approach. This is a multi-stakeholder process, and we believe there should be adequate representation from industry in this process from day one.
Let's talk a bit about Arctic sovereignty and Canadian northern sovereignty. We believe that industry can play a key role in Canada's northern sovereignty. This comes at no cost to you, because industry is pretty much self-funding. We bring our own funding once a deposit is proven. The Polaris and Nanisivik mines, as we've heard, were some of the most northerly mines in the world. Believe me, these are ordinary Canadians doing ordinary things in Canada's north. It's part of our job.
In order to keep the companies there, we do have to address the regulatory issues I spoke about, but we also do need ongoing geoscience funding. We were happy to see the Government of Canada's investment in the gem funding, which amounts to about $100 million over five years for northern geoscience activities.