Nuluak Fisheries, an integral component within the Nunatsiavut Group of Companies (NGC), actively engages in the fishing industry with significant ownership of quotas for shrimp, Greenland halibut (turbot), and Atlantic halibut. The NGC’s strategic management involves forming prudent alliances with third-party entities for the execution of harvesting activities, resulting in the remittance of royalty payments to NGC.
One noteworthy collaboration is exemplified through PiKalujak Fisheries, a partnership established in 1992. Within this venture, NGC maintains a 50% ownership stake alongside Labrador Sea (2004) Inc. and Ocean Prawns Canada Limited, effectively managing the harvesting of NGC’s northern shrimp quota. This collaborative effort underscores a commitment to sustainable practices.
Furthermore, NGC’s active participation in the Northern Shrimp Coalition, a federally incorporated non-profit organization, signifies a dedicated advocacy for the interests of northern regions and indigenous groups associated with the shrimp resource, preserving historical ties to the fishery. Despite projected declines in the northern shrimp quota, Nuluak Fisheries, under the aegis of NGC, remains resolute in its commitment to optimizing the value derived from this vital marine resource.
