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Business Briefs Andrew Livingstone E-mail: business@nnsl.com Monday, November 30, 2009 Previous columns Diavik adds new pick up point Liidlii Kue/Fort Simpson Diavik Diamond Mine recently added Fort Simpson to its local pick up point for workers, helping the mine exceed by two its pick up point commitment of eight Northern locations. With the addition, Diavik is discontinuing Edmonton as a pick up point for new hires effective early 2010 with hopes to make the North home for its new employees. Diavik has also transitioned several senior mine site roles to four days on and three days off for Yellowknife-based work rotations from two weeks on and two weeks off southern-based work rotations. "These changes are part of our overall commitment to do our best to hire northern residents and to encourage our workers to live in northern communities," a Diavik press release said. Currently, 525 Diavik workers reside in Northwest Territories and West Kitikmeot, Nunavut communities. This represents two-thirds of Diavik's existing workforce and double their initial estimate of employing approximately 265 Northern workers. De Beers ramping up production NWT De Beers' Snap Lake diamond mine expects production to slowly increase over the next two years to full production for the first time. The mine is expected to produce 500,000 carats this year and should, once in full production, produce some 1.5 million carats, 100,000 more than the company previously projected. De Beers' CEO Jim Gowans told Reuters it will take about a year and a half to get the mine, located north of Yellowknife, into full production. Gowans said recent improvement in the diamond industry have allowed the company to progress ahead with its plans, which were put on hold when the economic downturn lowered the demand for diamonds. Exploration numbers updated NWT/Nunavut Money spent on mineral exploration is up as of the end of October in both territories, but only a small increase in the NWT, according to Natural Resources Canada. Natural Resources Canada predicted 2009 expenditures at $28.7 million in October, up $300,000 from March. Nunavut mining increased to $147.7 million from March when it was pegged at $133.1 million. Updated numbers for 2008 showed $139-million increase in spending in Nunavut. Total spending was $432.6 million, up from $273.6 million in March this year. Spending in the NWT on mining exploration totalled 1.6 per cent of the $1.84 billion spent across Canada in 2009, while Nunavut accounted for 9.5 per cent. Insurance company to expand North Yellowknife/Iqaluit A Chicago-based insurance brokerage plans to expand the reach of its recently purchased Mones & Associates Insurance Brokers Inc. to Yellowknife and Iqaluit. Hub International Inc. purchased Mones, which also operates under the name Arctic Insurance Brokers Ltd., a major personal and commercial insurance provider for western and Northern Canada. Mones will create an additional $10 million in revenue for the company, allowing them to expand North and to five other Canadian locations. Elections being held Inuvik Inuvik Community Corporation (ICC) will be holding an election on Dec. 7 to fill its chair and three director positions. Voting will take place at the Inuvialuit Development Corporation office on Mackenzie Road, from 9 a.m. to 7 p.m. An advanced poll will be held at the ICC office on Nov. 30. Contact the office if you need a ride to the polling station. Chair candidates include Johnnie Lennie and Duane Smith. Director candidates are Peggy Day, Richard Gordon, Ethel-Jean Gruben, Ronald Gruben, Bernice Joe and Raymond Tingmiak.
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