Merci, Madame la Presidente. My questions are for the Minister of Lands. The department seems to have placed top priority in our request from the mining industry to use surety bonds as an acceptable form of financial security. Ernst & Young has apparently been contracted to tell the government that surety bonds are good financial security. So can the Minister tell us how much this contract with Ernst & Young is going to cost and when a report is going to be finished? Mahsi, Madam Speaker.
Thank you. Minister of ENR.
Thank you, Madam Speaker.
Lands. Sorry.
Lands/ENR. Thank you, Madam Speaker. Ernst & Young have been contracted to do research on the use of surety bonds as a form of financial security, including how they were used in other jurisdictions. GNWT's position continues to be that security must provide GNWT with immediate, unconditional, and revokable access to the full amount of the security. The contract value is approximately $230,000, and the report is expected to be available early in 2023. Thank you, Madam Speaker.
Merci, Madam la Presidente. I'm still trying to pick up my jaw because I couldn't find the contract anywhere in the OpenNWT contract website. But Madam Speaker, I think the fix is our government seems to be poised to accept surety bonds without a real plan to prevent further public liabilities like Cameron Hills and Mactung. So can the Minister tell us why his department has identified surety bonds as the top priority when it comes to financial security in preventing further public liabilities? Mahsi, Madam Speaker.
Thank you, Madam Speaker. Madam Speaker, I think me and the Member are going to probably have to agree to disagree on this. The research of security bonds is only one of several initiatives that the department has undertaken related to securities. The department's top priority is the development and implementation of regulations under the Public Lands Act which will include provisions for land restoration and security. Surety bond review has been planned and aligned with work under the Public Lands Act regulations. Thank you, Madam Speaker.
Merci, Madam la Presidente. I want to thank the Minister for that. Let's start with some easy stuff. Our government spent millions to develop some sort of a tracking system for financial security. That's good, but none of that information's been made public in an easily accessible form. Can the Minister tell us whether and when this government will actually post that information in a publicly accessible format, like a financial security data base, on a GNWT website? Mahsi, Madam Speaker.
Thank you, Madam Speaker. The public lands requires public reporting on all securities held, and the department is currently reviewing how best to make that information available to the public. Information on security is also available on the land and water board's public registry. This aligns with the top priority of the department to develop and implement the regulations under the Public Lands Act. We need to get this important piece of legislation in force. Thank you, Madam Speaker.
Thank you. Final supplementary. Member for Frame Lake.
Merci, Madam la Presidente. I want to thank the Minister for that. Now look, you don't need the regulations to start reporting financial security now. You don't need the regulations; just start doing it. So I know that our government has a protocol with some Indigenous governments around codevelopment of lands and resources legislation and regulations, and I support that process. However, our government seems to have forgotten that it must ensure that the public has a say in the development of legislation and regulations. More than eight years after devolution, there's been very little, if anything, from GNWT on preventing further public liabilities. So can the Minister tell us whether there's actually a plan for new legislation, regulations, policy, and capacity to prevent further public liabilities? Mahsi, Madam Speaker.
Thank you, Madam Speaker. Madam Speaker, again, I appreciate the Member asking these questions. Madam Speaker, multiple departments are currently working to implement the GNWT's approach to the management of contaminated sites. The action plan for the approach includes several items related to the prevention of public liabilities. This plan includes legislative and regulatory amendments as well as working with the land and water boards to update policies and procedures. Items have been completed including updated closure, cost estimate, guidelines, and a new estimate tool for land use permit securities. Thank you, Madam Speaker.
Oral questions. Member for Monfwi.
