Minority investments are projects where we have less than 51% of the company’s common share ownership. Some of our current equity investments include:
Arctic Fisheries Alliance (Qikiqtarjuaq) The Arctic Fishery Alliance is a partnership of four Hunters and Trappers Associations:
- Nattivak Hunters and Trappers Association – Qikiqtarjuaq
- Iviq Hunters and Trappers Association – Grise Fiord
- Ikajutit Hunters and Trappers Association – Arctic Bay
- Resolute Bay Hunters and Trappers Association – Resolute Bay
Using their 100 ft. vessel Suvak, the AFA harvests offshore turbot in NAFO Fishing Zones 0A and 0B..
Pangnirtung Fisheries (Pangnirtung) This fish processing plant is located in Pangnirtung, a Baffin Island hamlet of approximately 1300 people, and employs 8 full-time permanent and up to 30 full-time seasonal residents. In September 1992, Cumberland Sound Fisheries and the Nunavut Development Corporation incorporated Pangnirtung Fisheries to reorganize and stabilize the fish processing industry.
A modern fish processing plant was constructed to handle the turbot and char quotas within the region. The plant supports both char and turbot fishers by purchasing their fresh product. In addition, the plant lands turbot caught in the offshore fishery for further processing. The final product, whole dressed or quick-frozen fillets, is marketed regionally, nationally, and internationally through well-defined distribution channels.
Sudliq Developments (Coral Harbour) Sudliq Developments is engaged in the transportation, construction, and tourism business in Coral Harbour. The company successfully held and operated the GN-PPD Fuel Distribution contract in Coral Harbour from 1986 to 2011. Sudliq has been involved in nearly all major construction projects in Coral Harbour over the last 30 years. They also provide sealift cartage services in the community and provide snow removal for many local clients. In 2010, Sudliq was awarded a contract by First Air to provide agency, counter, and customer service for the community. Sudliq has employed upwards of 70 local people during peak business periods.
Tukumaaq Suites (Clyde River) Tukumaaq Suites is a new eight-room suite hotel project in the community of Clyde River. Tukumaaq seeks to provide high quality accommodations that will satisfy growing demand while still supporting the vision of its parent organization, the Illisaqsivik Society. This includes giving back to the community and creating employment opportunities.