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Low tide in Frobisher Bay near Iqaluit, Nunavut Territory, Canada. Iqaluit, with a population of 6,000, is the largest community in Nunavut as well as the capital city, is located in the southeast part of Baffin Island. Formerly known as Frobisher Bay, it is at the mouth of the bay of that name, overlooking Koojesse Inlet. "Iqaluit" means 'place of many fish'.