Administered by the Northwest Territories Geological Survey, the NWT’s Mining Incentive Program (MIP) provides funding to prospectors and companies proposing or completing mineral exploration in the NWT.

Since its inception, companies, individuals and projects have employed MIP funds with notable success. 

Here’s a breakdown of the popular program (2014-2022) by its numbers:

$1.5 Million 

was distributed in 2022-23 FY under the Government of the Northwest Territories’ Mining Incentive Program to NWT prospectors ($94,000) and companies ($1.4 Million) .

7 (Seven)

out of 17 of the projects that received funding this year were exploring, at least in part, for Lithium (Li).  In total, 13 of the 17 were searching for critical minerals. 

$7.4 million 

has been invested by the NWT government in a variety of NWT–based mineral exploration projects since the program’s inception in 2014. 

$38.5 Million 

is the amount of reciprocal spending (leveraged spending) that has been invested by program recipients. 

7 (Seven) 

prospectors have sold or optioned properties thanks to their MIP-funded exploration . All have been incorporated into promising exploration projects.