The bulk of what Premier Dennis Fentie told Yukon business people attending the annual Northern Chambers Meeting in Whitehorse is common knowledge.

The Yukon holds a fortune in untapped resources, and this is a huge contributor to its robust investment climate, said the premier, who offered a nod to the territory's "most important resource – people.”

But the brief question and answer period following Fentie's morning address was a reminder that while the premier may be the Yukon's most important booster, as a politician, he keeps his cards close to his chest.

Asked when he planned to call a byelection for the vacant seat in Whitehorse Centre and whether it would be prior to the fall sitting, the premier offered the same answer he gave the Star two weeks ago:

"I can't give you definitive dates on either when a byelection will be held or even when a fall sitting will take place,” Fentie told the breakfast audience at the High Country Inn.

"But I must stress the fact, that regardless, the people of Whitehorse Centre will be well represented.”

The seat became vacant with the July 28 death of its former MLA, New Democrat Todd Hardy.

Asked where the territory would go beyond the $160-million Mayo B hydro expansion and grid connection, Fentie said the long-term focus should remain on "more hydro” while a grab bag of options to meet rising energy demands in the near term could be explored.

"We have to also recognize that there's a very short-term challenge here. Things like our natural gas reserves are a possibility,” he said.

"Even wind, although an intermittent supply of energy, we must continue to integrate all the alternatives we have.”

The premier also said addressing the Yukon Energy Corporation's aging infrastructure – sold to the public utility by the Northern Canadian Power Commission in 1987 – would be among the "key challenges.”

"I think that it's unfortunate that since the purchase of NCPC, the energy infrastructure deficit has continued to evolve over time,” Fentie said.

As for where the money to pay for such upgrades would come from, the premier may be looking to First Nations, as the energy corporation has already extended itself by issuing $100 million worth of bonds to pay for its portion of Mayo B.

"Our (territory's) land claims are far advanced compared to the rest of the nation,” he said.

"That is a major contributing factor because those treaties are also tools for our development,” Fentie said in his speech.

During the Q&A session, he suggested that "First Nations have a role to play ... (they) have a lot of investment capacity and we'd rather have it invested in the Yukon than outside its borders.”

Also during his speech, Fentie credited the 2003 devolution deal with Ottawa for putting the destiny of the territory in the hands of Yukoners.

"In other words, we make our own decisions.”

Due to increases in transfer payments and increasing mineral exploration and exploitation, the Yukon was the only jurisdiction in Canada whose economy grew during the last fiscal year. And investment in mineral exploration for 2010 is expected to be $140 million; another record year on par with 2007.

"When it comes to development and production, we are projecting $320 million in investment for 2010 and the spinoff economic development is significant,” Fentie added.

The premier also touted the Yukon's fourth-place ranking in a recent Fraser Institute survey of favourable mining jurisdictions around the world.

See more coverage of northern chambers' conference in tomorrow's Star.