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Nunavut is located in the northern part of the country. It is bordered by Yukon to the west, Nunavut to the east, and British Columbia, Alberta, and Saskatchewan to the south. The history of Nunavut dates back to the 16th century when the region was first explored by Europeans. The Hudson's Bay Company established a trading post in the region in the late 18th century, and the area became a centre for the fur trade. In 1870, the British government transferred the region to Canada. Nunavut was created in 1999 out of the eastern portion of the Northwest Territories, and it encompasses traditional lands of the Inuit.
As of 2021, the population of Nunavut is approximately 36,858 people. The majority of the population is Indigenous, with the largest groups being Inuit.
The economy of Nunavut is heavily dependent on natural resources, including mining, oil and gas, and forestry. The territory is home to some of the world's largest diamond mines, and it is also a significant producer of gold, silver, and other minerals. The oil and gas industry is also an important contributor to the economy, with several large oil fields located in the region. The forestry industry is relatively small, but it is an important source of employment in some communities. In 2024 the Federal government devolved responsibility for managing lands and rresouces to Nunavut, which should assist in economic development.