Published 8:25 am Wednesday, December 3, 2025 By William Koblensky Varela, Local Journalism Initiative Northern News Services The Inuit Impact and Benefit Agreement between the Kitikmeot Inuit Association (KIA) and B2Gold has created a $4-million wealth fund for infrastructure projects in the region. B2Gold’s Back River gold mining district, which includes the now operational Goose Mine, is paying for the fund. KIA said it hopes the fund can create jobs outside the mining industry. “We are looking to support a project that would not have proceeded without B2Gold Nunavut’s investment — a project that will directly result in the creation of long-term jobs outside of the mining sector,” said Skye Lacroix, Inuit Impact and Benefit Agreement manager at the KIA. The wealth fund will not provide grants to existing projects seeking to continue operations, or operating expenses, and instead only pay towards new investments, according to the application guide. Projects that offer more employment in the region will be prioritized. “The goal of the fund is to support projects that create long-term jobs in Kitikmeot communities. Any types of projects that are brought forward to the fund will need to demonstrate that they will create long-term jobs in one of more Kitikmeot communities,” according to B2Gold Nunavut. Only projects in the communities of Kugluktuk, Cambridge Bay, Gjoa Haven, Kugaaruk and Taloyoak are eligible. The KIA and B2Gold will review applications on an annual basis until the fund’s money is exhausted. Lacroix said she hopes the fund can support the building of infrastructure in the region. “The project would create long-term jobs in Kitikmeot communities that will have an economic benefit and provide the basis for some form of infrastructure,” she said. Organizations that receive funding are required to submit regular reporting to the KIA and B2Gold on how the allocated money is being spent. Applicants to the fund are asked to specify their timeline for building proposed projects, and explain what problems the project would solve in the region. “Partnership between Inuit organizations, governments and private industry are the best ways to support positive economic development across the Kitikmeot region, and we believe this fund is a great way to build this type of partnership across the region,” B2Gold said. The Inuit Impact and Benefit Agreement that mandated the wealth creation fund was signed in 2018.
KIA, B2Gold create $4-million wealth fund
