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Lessons in Business Strategy Planning

A Presentation to the 2011 Aboriginal Entrepreneurs Conference & Tradeshow By Charlie Evalik, President, Kitikmeot Inuit Association & Chairman, Nunavut Resources Corporation. The Kitikmeot Experience. Lessons in Business Strategy Planning. Our Land.

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Lessons in Business Strategy Planning

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  1. A Presentation to the 2011 Aboriginal Entrepreneurs Conference & Tradeshow By Charlie Evalik, President, Kitikmeot Inuit Association & Chairman, Nunavut Resources Corporation The Kitikmeot Experience Lessons in Business Strategy Planning

  2. Our Land • The Kitikmeot Region – a vast area covering the central arctic • 447,727 km2 = 4.5% of Canada’s total land mass • Larger than Newfoundland and Labrador

  3. Our people • Approximately 6,000 people living in 5 communities • 90% are Inuit • A young and growing population • We speak Inuktitut and Inuinnaqtun Photo Credits Zainab Moghal

  4. Kitikmeot Inuit Association

  5. Kitikmeot Economic History – The past 100 years Photo Credit: Library and Archives Canada Photo Credit: Library and Archives Canada

  6. Kitikmeot Economic History – The past 100 years Photo Credits: LCG Russ Photo Credit: Newmont Mining Corporation

  7. Nunavut Land Claim Agreement • The NCLA was a “game changer” for economic development in the Kitikmeot Region, providing: • Land base • Mandatory Inuit Impact and Benefit Agreements (IIBAs) • Government procurement incentives • Core funding to KIA for capacity building and investments

  8. KIA Land Base • KIA owns and manages 106,360 km2 of Inuit Owned Land (IOL) • KIA charges rent and aggregate fees to land users such as mining companies • Subsurface royalties administered through NTI

  9. Inuit Impact and Benefit Agreements • Before any “Major Development Project” can proceed, an IIBA must be negotiated • IIBAs may contain provisions for: • Inuit employment • Training • Cash transfers – fixed payments and/or revenue-sharing • Inuit business and contracting opportunities

  10. Kitikmeot Corporation • KC is the ‘business arm’ of the KIA • KC has established business subsidiaries and Joint Ventures

  11. The journey is not yet done

  12. A Strategic Economic Vision for the Kitikmeot Region Increasing benefits Equity Ownership in Resource Projects Regional Infrastructure Ownership Provide Goods & Services Receive Economic Rent

  13. Nunavut Resources Corporation

  14. Lessons learned along the way • Build a strong team • Find committed partners • Resourcing is important • Remain committed to your objective

  15. Another Important Lesson • Be Realistic and Adaptable! • Raising capital for investment in resource projects is easier said than done • To generate the capital required for equity investment, a more modest and realistic business strategy had to be developed • In response, two business lines have been created: • NRC-Infrastructure • NRC-Exploration

  16. NRC Infrastructure Ltd. • Work with resource developers to develop regional infrastructure • Access third-party debt and equity, and industry and government funding • Finance feasibility studies and infrastructure development • User fees or lease-back arrangements & dividends to owners

  17. NRC Exploration Ltd. • Mineral exploration is risky • Can provide unparalleled benefits if a successful • NRC-X will form strategic partnerships to explore the Kitikmeot Region and beyond

  18. Challenges Ahead for NRC • Equity ownership is a long-term objective • In the meantime, NRC-I and NRC-X have the potential to grow over time • However, success is not guaranteed and risk is significant

  19. Contact CHARLIE EVALIK President Kitikmeot Inuit Association Box 18 Cambridge Bay, Nunavut XOB OCO (867) 983-2458 kiapresident@qiniq.ca

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