The governor of the Bank of Canada is in Yellowknife this week. The central bank said Tiff Macklem is meeting with “different organizations and sectors.” He’s also touring Gold Terra’s operations.
Macklem runs Canada’s central bank, which sets monetary policy, works toward the stability of the country’s financial system and is responsible for its currency.
A spokesperson for the Bank of Canada did not say which NWT organizations and businesses Macklem will meet, but said the goal of the trip is “to gain a fuller picture of the economy.”
“Mining is an important industry in the North, so his visit to these operations will give him a sense of the challenges and opportunities facing the industry,” the spokesperson said.
Macklem’s visit is understood to include a tour of Gold Terra’s operations on the site of Yellowknife’s former Con gold mine.
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In September, Gold Terra – an exploration company trying to restart gold mining in the area – began drilling at the site “to evaluate the gold potential of the historic tailings as a potential source of additional gold ounces,” according to a news release.
The company is working on a preliminary economic assessment, a key document that can be used to attract investment with a view to opening a mine.
