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Canada on Thursday formally gave the giant Arctic territory of Nunavut control over its reserves of gold, diamonds, iron, cobalt and rare earth metals, a move that could boost exploration and development.

Prime Minister Justin Trudeau signed a devolution agreement in the Nunavut capital Iqaluit with Premier P.J. Akeeagok, granting the territory the right to collect royalties that would otherwise go to the federal government.

Nunavut is home to some of the minerals critical for battery production. Canada has pledged billions in incentives to woo companies involved in all levels of the electric vehicle supply chain as the world seeks to cut carbon emissions.

Read more at: https://www.mining.com/web/canada-to-give-mineral-rich-arctic-region-of-nunavut-control-over-its-resources/