Home of the Big River People
The Na-Cho Nyäk Dun Development Corporation (NNDDC) was created in 1997 with modest objectives. The mandate of NNDDC is to be the primary active business arm for the First Nation of Na-Cho Nyäk Dun (FN-NND) citizens and to develop and manage business interests that provide services to the community and create employment opportunities for FN-NND citizens. FN-NND is located in northeast Yukon in the community of Mayo, a town that had its beginnings during the boom years of the silver mines in the area in the 1920's and their Traditional Territory covers 162,456 square kilometers of land - 131,599 sq km in the Yukon and 30,857 sq km in NWT. Map and History
NNDDC does this by primarily investing in and managing local businesses and real estate, and by working with other businesses that invest in and operate in the FN-NND's Traditional Territory. These businesses provide opportunities for joint ventures, partnerships, and contracts to provide services and supplies by NNDDC businesses and employment for FN-NND citizens. When these outside businesses do well, they have money to invest, and NNDDC and its subsidiary businesses also do well.
NNDDC is one of several partners contributing to Community Economic Development for the First Nation of the Na-Cho Nyäk Dun, including: Chief and Council, NND Investment Trust, NND Business Trust, and NND Departments. Other partners include the Canadian Northern Economic Development Agency (CanNor) and Yukon Government Departments of Economic Development & Community Services.
The Mission of the Na-Cho Nyäk Dun Development Corporation is to generate new wealth creation for the Shareholder by investing in and capitalizing on business opportunities, where possible in NND Traditional Territory, through partnerships, acquisitions, and Business investments.
The Na-Cho Nyäk Dun Development Corporation's directors and staff value wealth creation for the First Nation, along with valuing accountability to our Shareholder, the NND community, our business partners and our clients. We endeavour to achieve this by undertaking ongoing and thorough financial and social assessments of existing and potential investments, while working to provide quality services, by developing and maintaining positive relations, and demonstrating integrity in all our dealings. We recognize that all investments must meet Community Social Responsibility criteria as relevant to the First Nation.
We understand the importance of respecting the natural environment and valuing Na-Cho Nyäk Dun culture, traditions, and history as well as transparency in operations and management.
Finally, we recognize the First Nation of Na-Cho Nyäk Dun as stewards of the land.
NNDDC as a Contributing Partner
NNDDC is one of several partners contributing to Community Economic Development (CED) for the First Nation of the Nacho Nyäk Dun, including: Chief and Council, NND Investment Trust, NND Business Trust, and NND Departments - Housing & Capital, Education & Training, and Lands and Resources Department. Other partners include the Canadian Northern Economic Development Agency (CanNor) and Yukon Government's Department of Economic Development. NNDDC also has several industry partners who contribute to CED through the Comprehensive Cooperative Benefits Agreements (CBA), contracts, partnerships and joint-ventures.
Bylaw paragraph 2.3 - "Purposes and Objectives of the Corporation"
"The primary objective of the Corporation is to oversee, sponsor, or participate in activities, projects, programs or organizations which promote, protect, benefit or enhance the economic, social or cultural well-being of NND and its Citizens, except where to do so would unduly interfere with the Corporation's ability to achieve maximum profit return for the Shareholder. Without limiting the generality of the foregoing, and as a means of carrying out its primary objective as described herein, the Corporation shall:"
promote the Shareholder's economic interests and produce maximum profit for the Shareholder while maintaining a sustainable operational base;
pursue and seize all viable and beneficial business and economic opportunities, both within and outside the Traditional Territory, in a diligent and timely fashion; and
uphold its duty to the Shareholder and continuously communicate with the Shareholder in an accountable, transparent and timely fashion.
"The Corporation shall use its best commercial efforts to avoid business ventures and investments that infringe or threaten the rights or interests of any First Nation or indigenous people."
NNDDC Business Plan - Highlights
The new management team and Board of Directors at NNDDC are working diligently to develop new streams of revenue for the Development Corporation which will help it become financially independent within the next two years. The NNDDC has suffered from a weak investment portfolio which has not generated the revenue required to meet operating expenses for many years. We have to turn this around and we have the opportunity to do so this year and next year as the mining industry starts to reinvigorate within the NND Traditional Territory. In order to take advantage of the reenergized mining economy, we need to strategically partner with firms who can deliver the services and expertise that the mining firms working in the NND territory require. Then we need to turn these profits into investments that will help build the Mayo economy and secure its future.
In early 2017, we developed a comprehensive business plan and capital plan for the NNDDC which includes many new ideas and approaches to doing business. These plans were developed based on discussions with other First Nation Development Corporations, with Yukon government advisors, with our bankers at CIBC, and through our Board members, as well as through extensive research on past NNDDC finances, investments and plans. Based on this research we have developed a plan that can best leverage the mining economy in the NND Territory based on the limited resources available to the Development Corporation.
We asked our Shareholder, the NND Business Trust, to invest in key project undertakings which will bring new services and businesses into Mayo and help revitalize the community in March 2017. Once these funds have been transferred to the NNDDC, we can start to look at building a garage in Mayo for car and light truck servicing in partnership with Victoria Gold, we can look at building new market housing and a hotel which could be the focal point for a tourism industry in the community, but which also provides suites for mining firms executives and office space along with a pub facility. As the mining industry once again starts to boom we also see opportunities for creating a bunkhouse for contractors and transport drivers, as well as increasing our investment into Alkan Air and starting to provide aviation fuel services at the Mayo Airport.
We feel that this is could be a very exciting year for the community as we bring new business partners and opportunities to the community of Mayo. Of course, our major plans are dependent upon the mining sector continuing to grow and provide us with the capital we need to diversify the company’s investment portfolio. We are working with both national corporations as well as local entrepreneurs to make connections that will assist local development and we hope, generate new jobs in Mayo for Na-Cho Nyäk Dun citizens and their families.
NNDDC Business Advangtages
The primary competitive advantages of NNDDC include:
The Na-Cho Nyäk Dun First Nation, located in the heart of the Silver Trail mining sector, has several proven and permitted mineral deposits and signed CBAs with these mining firms;
Being signatory to CBA/IBAs with resource development companies in mining and energy companies through the First Nation of Na-Cho Nyäk Dun which is a self-governing modern treaty First Nation;
Access to capital through the NND Business Trust and possibly through the First Nation government;
Good working relations and partnerships that are bringing in a steady stream of revenue and which could grow dramatically if the demand for minerals, especially gold and silver prices improve over the next 12 to 18 months;
A strong and proven partnership with Tetra Tech Canada for engineering and environmental consulting on NND lands which turns a viable ROI as well as jobs at mark-up for NND citizens and assets,
This includes a newly signed Aboriginal Set-Aside (SOA) with INAC for mine remediation in Yukon (all mines other than Faro) that could be worth up to $2M annually;
The ability to partner with other Yukon First Nations to maximize investment levels and opportunities while reducing exposure;
A growing recognition by private sector firms that joint ventures with First Nation development corporations supports good corporate social responsibility while also generating viable revenue streams, resulting in numerous offers by these firms to joint ventures with us; and
The changing political climate in Canada and in Yukon is encouraging, with both the federal and newly elected territorial governments being committed to improving FN/Government relations and supporting Aboriginal economic development.