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Noel says First Nations are significant equity players in eight major Yukon resource projects announced in recent years. One of the most prominent is the $120-million Mayo B initiative, which involved building a second 10-megawatt powerhouse downstream from an existing one on the Mayo River.

“The Na-Cho Nyak Dun First Nation is an equity partner here and is enjoying the economic benefits of that partnership,” says Noel. “With equity comes leverage. The time for token opportunities like temporary jobs is in the past. What’s new and exciting and different is the long-term security and revenue streams that stem from investment in large infrastructure projects.”

Among current developments, the Champagne and Aishihik First Nations are investing in a biomass energy project designed to use trees killed by beetles as biofuel, while the Teslin Tlingit Council and the Carcross Tagish First Nation are considering equity positions in two major hydroelectric projects.

“The Yukon has matured into a market ready to accept investment in large-scale resource and energy projects,” says Noel. “When you have a government that encourages participation from all stakeholders and you have Yukon First Nations with significant investment equity to bring to the table, it’s clear that we’re ready to work with the largest companies who want to operate here.”