Northwest Territories - Economy

Economy

The NWT's geological resources include gold, diamonds, natural gas and petroleum. BP is the only oil company currently producing oil in the Territory. NWT diamonds are promoted as an alternative to purchasing blood diamonds. Two of the biggest mineral resource companies in the world, BHP Billiton and Rio Tinto mine many of their diamonds from the NWT. In 2010, NWT accounted for 28.5% of Rio Tinto's total diamond production (3.9 million carats, 17% more than in 2009, from the Diavik Diamond Mine) and 100% of BHP's (3.05 million carats from the EKATI mine).

The Northwest Territories has the highest per capita GDP of all provinces or territories in Canada, C$76,000 in 2009.

Read more about this topic:  Northwest Territories

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