Overview

• Nunavut, a predominantly Inuit territory, has signed an agreement with the Canadian government, marking the largest land transfer in Canada's history.
• The agreement gives Nunavut control over its lands and resources, including the right to collect royalties that would otherwise go to the federal government.
• The territory of Nunavut, spanning over 2 million square kilometers, is believed to hold some of the richest resource deposits in the country, including gold, diamonds, and rare earth minerals, as well as oil and gas.
• The agreement comes after decades of negotiations and is set to be fully implemented over the next three years.
• Nunavut is the last of Canada's three Arctic territories to take full control of its lands, following the Northwest Territories and the Yukon.