The history of the Northwest Territories covers the period from thousands of years ago to the present day. Prior to European colonization, the lands that encompass present-day Northwest Territories were inhabited for millennia by several First Nations. European explorers and fur traders began to explore the region since the late-16th century. By the 17th century, the British laid claim to both the North-Western Territory and Rupert's Land; and granted the Hudson's Bay Company a commercial fur trade monopoly over the latter region.