It looks like Asia has really been putting their money where their mouths are, proving their huge support of Yukon industries. Indeed, according to a report in CBC News Canada, they have invested more than $1bn in its mineral and gas industries over the last five years. Ex-Minister of Economic Development Jim Kenyon, spent his time in this position really pushing Chinese companies to make investments in Yukon’s mineral resources.
It has made sense that the investors have poured all this money in. According to Kenyon, it has been a great way of “securing access to the territory’s resources.” At least three mining projects and one gas play in the territory have been the recipients of Chinese investments. Over the last four years, government officials claimed that there had been six deals that had taken place between Asian investors and Yukon-based companies. As well, as Kenyon said last Thursday in a CBC News interview, “if you’re willing to go that route, then you are going to be very successful in the long run, if you’ve got a good product.”
In total, according to a government official, more than $460m worth of Asian investments has been put into Yukon projects. But vis-à-vis related spending, that figure automatically increases to more than $1bn.