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
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)