The Conference Board of Canada says lower commodity prices have weakened the North's immediate economic outlook. But the think-tank says the longer-term prospects for mining in the three northern territories remain strong. The board's report says there are important differences from east to west. The Yukon, where construction on three new mines is expected to begin, is likely to perform the best. Nunavut, where investment is flowing into two major projects, is also likely to do well. But diamond mining in the Northwest Territories is rapidly maturing and proposed new projects won't cover the loss of production over the next decade. Overall, the board forecasts the territories will grow 3.6 per cent this year and 5.4 per cent next year, easily outpacing the Canadian average.
