In late 2016, Thackeray Mines & Minerals Inc. launched the Meliadine Project, a gold and silver mining operation located in Rankin Inlet, Nunavut, Canada. Initiated as a joint venture with another company, Thackeray held a 60% majority stake at the project’s inception, underscoring its leadership role in the operation. In 2020, Thackeray expanded its ownership by acquiring an additional 20% share, bringing its stake to 80% and solidifying its control over the project.

The Meliadine Project was strategically developed to harness the abundant gold and silver reserves identified in the Rankin Inlet region, a hub of mineral wealth within the Arctic. This operation represented a significant step in Thackeray’s Arctic mining initiatives, complementing its earlier Meadowbank Project and reinforcing the company’s growing presence in Nunavut.

From the outset, Thackeray prioritized collaboration with local communities and Indigenous groups in the development of the Meliadine Project. Employment opportunities, skills training, and local business partnerships were central to the operation’s success. Thackeray also invested in community infrastructure, fostering strong ties with the Rankin Inlet region and contributing to its socio-economic development.

The 2020 acquisition of an additional 20% stake in the joint venture further solidified Thackeray’s leadership of the Meliadine Project. This increased ownership allowed the company to align the project more closely with its operational standards and long-term goals. The expanded stake also amplified the financial returns for Thackeray, making Meliadine one of the most significant contributors to its gold and silver production portfolio.