Page 7 - BEC / JULY / 2022

HISTORY OF GIANT MINE about 50 years. Gold at Giant Mine was found in
ncorporated in 1995 as part of the
formation of the new Canadian specific minerals called arsenopyrite ore. To release

Iterritory, NCC was formed to build, own, the gold, the ore had to be roasted at extremely
Gold was first discovered by prospectors in the
and lease commercial and residential high temperatures. Unfortunately, this roasting
Yellowknife area in 1896 in the rush of the Klondike
infrastructure required by the Government process also released arsenic rich gas, a highly toxic
Gold Rush. It wasn’t until the arrival of bush planes
of Nunavut. by-product.
that the area became accessible and mining started,
During its operation, the mine produced 237,000
precipitating a gold rush that went unabated
Clarence Synard, who moved to Iqaluit in tonnes of arsenic trioxide waste.
except for during the years of WWII—the longest
1995 and has been with NCC Investment
continuous gold mining operations in Canadian
Group Inc. since 2005, is the current Chief Flash forward to the 1990s. After the mine changed
mining history.
Executive Officer (CEO). We spoke with ownership through the years, Royal Oak Resources

Synard about the history of NCC and how Ltd. purchased the mine to become its final private
Giant Mine has also formed a legacy of
it is shaping the future of Nunavut. owner. When Royal Oak went into receivership in
contamination. Giant Mine was in full operation for

JULY 2022 | BUSINESS ELITE CANADA 7