One of those assets that was nationalised, without what Helms Burton considers sufficient compensation, was the nickel mine at Moa Bay.

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This was the case with the Cree over the massive James Bay hydroelectric dams in northern Quebec, the Innu over the Voisey's Bay nickel mine in Labrador, the Inuit over diamond mines in the Northwest Territories, and the 1999 creation of the new territory of Nunavut, the largest land-claim settlement in Canadian history.

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The Arctic is already a big source of minerals, including zinc in Alaska, gold in Canada, iron in Sweden and nickel in Russia, and there is plenty more to mine.

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The capacity of mine containing cuprous sulfides and sulfides with disseminated PGMs is rising faster than mines deriving PGMs from nickel-rich sulfide ores, he said.

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