US strikes Houthi anti-ship missiles, shipping disruptions grow
IQALUIT, Nunavut, (Reuters) - Canada yesterday formally gave the giant Arctic territory of Nunavut control over its reserves of gold, diamonds, iron, cobalt and rare earth metals, a move that could boost exploration and development.
Prime Minister Justin Trudeau signed a devolution agreement in the Nunavut capital Iqaluit with Premier P.J. Akeeagok, granting the territory the right to collect royalties that would otherwise go to the federal government.
Nunavut, a region of growing strategic importance as climate change makes shipping lanes and resources more accessible, covers 810,000 square miles (2.1 million square km) but has a population of only 40,000. An almost complete lack of infrastructure means operating costs are exorbitant.
“We can now bring decisionmaking about our land and waters home. It means that we, the people most invested in our homeland, will be the ones managing our natural resources,” Akeeagok said in a statement.
Challenges include harsh weather, lack of infrastructure, high costs, major social problems and a largely unskilled and undereducated Inuit aboriginal
ABOARD AIR FORCE ONE/ WASHINGTON/NEW DELHI, (Reuters) - The U.S. launched new strikes against Houthi anti-ship missiles aimed at the Red Sea yesterday, as growing tensions in the region’s sea lanes disrupted global trade and raised fears of supply bottlenecks workforce.
Nunavut, created in 1999, was the only one of Canada’s three northern territories that had not negotiated devolution. Talks on the agreement started in October 2014.
Companies active in Nunavut include Agnico-Eagle Mines AEM.TO, operator of the territory’s only working gold mine.
Nunavut is home to some of the minerals critical for battery production. Canada has pledged billions in incentives to woo companies involved in all levels that could reignite inflation.
The two anti-ship missiles targeted in the strikes were being prepared by Yemen’s Houthis for firing into the Red Sea and deemed “an imminent threat” to shipping and U.S. Navy vessels in the region, the U.S. military of the electric vehicle supply chain as the world seeks to cut carbon emissions.
But operating mines can be a complex affair in Nunavut, where some communities are concerned about potential pollution.
In 2022, Ottawa rejected a request by Baffinland Iron Mine Corp - part-owned by ArcelorMittal MT.LU - to double production at its Mary River iron ore mine in the north of Nunavut, citing the environmental impact. said. Attacks by the Iran-allied Houthi militia on ships in and around the Red Sea since November have slowed trade between Asia and Europe and alarmed major powers in an escalation of the war between