Interest in Nunavut's mineral potential remained strong throughout 2007 with exploration spending estimated at 266.7 million dollars. All commodities are being sought, fuelled by sustained high commodity prices, junior mining companies have driven much of the exploration in Nunavut in recent years but in 2007 major companies increased their presence. Zinifex, an Australian base metal miner, acquired Wolfden Resources, and its Nunavut-based projects. New-mont Mining secured majority ownership in Miramar Mining, and took control of the Hope Bay greenstone belt gold properties. Agnico-Eagle Mines took over Cumberland Resources, to get the Meadowbank gold deposits. And Cameco now has interests in both UNOR and Western Uranium, both of which are exploring Nunavut for uranium deposits. In 2007, there were more than 60 active exploration projects looking for gold, diamonds, base and precious metals, and uranium in the region.
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