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Yellowknife (2006 population: 18,700) is the capital and largest city of the Northwest Territories (NWT), Canada. It is located on the north shore of Great Slave Lake, approximately 400 km (250 mi) south of the Arctic Circle, on the west side of Yellowknife Bay near the outlet of the Yellowknife River. Yellowknife and its surrounding water bodies were named after the local Yellowknives Dene First Nation, who made tools from regional copper deposits. The current population is ethnically mixed. Of the eleven official languages of the Northwest Territories, five are spoken in significant numbers in Yellowknife: Dene Suline, Dogrib, South and North Slavey, English, and French. In the Dogrib language, the city is known as Somba K'e ("where the money is").

Yellowknife was first settled in 1935, after gold had been found in the area; Yellowknife soon became the centre of economic activity in the NWT, and became the capital of the Northwest Territories in 1967. As gold production began to wane, Yellowknife shifted from being a mining town to being a centre of government services in the 1980s. However, with the discovery of diamonds north of Yellowknife in 1991, this shift has begun to reverse.

 As the largest city in the Northwest Territories, Yellowknife is the hub for mining, industry, transportation, communications, education, health, tourism, commerce, and government activity in the territory. Historically, Yellowknife's economic growth came from gold mining, and later government; however, because of falling gold prices and increased operating costs, the final gold mine closed in 2004, marking a turning point for Yellowknife's economy.

After a downturn in the 1990s during the closure of the gold mines and the downsizing of the government workforce in 1999, Yellowknife's economy has recovered, largely because of the diamond boom; the Ekati Diamond Mine, owned and operated by BHP Billiton, opened in 1998. A second mine, Diavik Diamond Mine, began production in 2003. Production from the two operating mines in 2004 was 12,618,000 carats (2,524 kg; 5,564 lb), valued at over C$2.1 billion. This ranked Canada third in world diamond production by value, and sixth by weight. A third mine, De Beers' Snap Lake Diamond Mine, received final approval and funding in 2005 and went into production in 2007. De Beers also applied in 2005 for a permit to open the Gahcho Kue Diamond Mine Project on the property formerly known as Kennady Lake. Upon receipt of approval, construction is expected to start in 2010 and the mine will reach full production by 2012. As well, growth and expansion in natural gas development and exploration sectors has contributed to this growth. Economic growth in the Northwest Territories was 10.6% in 2003.

The major employers in Yellowknife include: the Territorial Government, the Federal Government, Diavik Diamond Mines Incorporated (a subsidiary of Rio Tinto Group)/Harry Winston Diamond Corporation, BHP Billiton, First Air, NorthwesTel, RTL Robinson Trucking, and the City of Yellowknife. Government employment accounts for 7,644 jobs, a large percentage of those in Yellowknife.

During winter, the Tibbitt to Contwoyto Winter Road is opened for semi-trailer truck traffic to take supplies from Yellowknife north to various mines located in the Northwest Territories and Nunavut. This ice road is usually open from the end of January through late March or early April, and Yellowknife becomes the dispatch point for the large number of truck drivers that come north to drive on the ice roads. During the 2007 ice road season, several drivers were featured on the History Channel TV series Ice Road Truckers.

 

Tourism is the largest renewable industry in the NWT and Yellowknife is the main entry point for visitors. Many of these tourists are Japanese, and come to experience the Northern climate and traditional lifestyle, as well as to see the Northern Lights. In 2004-05, visitors to the territory spent C$100.5 million.

The City of Yellowknife raises 50% of its operating revenue through property taxation. Yellowknife School Districts also raise a portion of their operating revenue through property taxation. Property taxes in Yellowknife are calculated through property assessment and the municipal and education mill rates. Mill rates in 2005 were 13.84 (residential) and 19.87 (commercial).

Canadian North, a regional airline, is headquartered in Yellowknife