Russian-Owned Mining Company Puts Nunavut Exploration Project on Ice

Published at: Apr 01 2022 - 10:54 / Updated at: Apr 01 2022 - 10:54

Nordgold S.E. has put its gold exploration plans in Nunavut on hold until next year. The company wants more time to process its 2021 drilling results, which were received in February, spokesperson Olga Ulveya told Nunatsiaq News in an email.

The Russian-owned company, which operates the Pistol Bay project, has mineral rights to an 860-square kilometer parcel near Whale Cove. Representatives from Nordgold gave the news to the hamlet on March 17, according to Mayor Percy Kabloona.

Nordgold, which is based in the United Kingdom, operates in Canada through its subsidiary, Northquest Ltd. The company has not been approached by Canada and continues to operate as normal, Ulyeva said.

Nordgold has been operating the Pistol Bay project since 2014