Makivik: Shrimp Fishery
July 4, 2018 – Makivik’s Vice President of Economic Development, Andy Moorhouse met yesterday with Mr. Brian McNamara, President of Newfound Resources Ltd., our fishing partner, in St. John’s Newfoundland to review the results from the 2017-2018 fishing year which ended on March 31, 2018. Newfound Resources Ltd. and Makivik have been working together as partners for over 15 years.
“Our fishing royalties are very important for the well-being of our beneficiaries and we value our relationship with Newfound Resources very much”, said Andy Moorhouse.
The prices for our northern shrimp remain strong and we are increasing our market in Europe with the new trade agreement with the European Union. Northern shrimp is very popular in China and this is a market that we continue to develop as an industry over the past few years. In addition, Makivik has also developed strong relationships with our foreign customers. Makivik received $7.2 million in royalties from its fishing partner Newfound Resources Ltd. for the 2017-2018 fishing year.
In December 2017, as with previous years, Makivik distributed 8,790 kg of our northern shrimp at a cost of $170,000 to all 14 communities plus all beneficiaries in the Montreal area so everyone could enjoy their wonderful taste over the Christmas holidays.
This past April, Makivik hosted it’s second Offshore Shrimp Training Program in the Northern Village of Salluit over the course of 4 weeks. This course is run by the Nunavut Fisheries Marine Training Consortium in conjunction with the Marine Institute of Memorial University in St. John’s. It enables the successful candidates to work on the offshore trawlers operated by our fishing partner, Newfound Resources Ltd.
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