Mr. Speaker, I want to continue with some questions today for the Minister of Industry, Tourism and Investment. Again it has to do with diamond policy, strategy and vision of the Government of the Northwest Territories as it relates to our diamond file.
I mentioned yesterday that the previous government blew up the diamond division at ITI midway through the life of the last government. I know we are doing work in the area of developing a review of the policy that’s in place for diamonds. I’m wondering: if the division isn’t there, who exactly is doing the work of the review of the policy and the strategy?
Thank you, Mr. Ramsay. The honourable Minister of Industry, Tourism and Investment, Mr. Bob McLeod.
Since diamonds were discovered in the Northwest Territories ten years ago, the Government of the Northwest Territories has been working very hard to maximize the benefits of the diamond industry for NWT residents and businesses.
In particular, we’ve been successful in developing a secondary manufacturing industry here in the North. I’m very proud to say that it’s well recognized within the diamond industry that this has worked very well, and it’s being adopted by other countries that have diamonds. As far as reviewing our policies, it is has been ten years, so it is important work that has to be done. Right now we’re developing our framework internally, and we will be seeking input from the members of the standing committee. Once we have agreed on the framework, my expectation is that we would seek some outside expertise.
Mr. Speaker, I agree with the Minister that we have to maximize the return we get from having diamonds here in the Northwest Territories. I think the Minister stated that the work was being done internally and that it is a framework. Yesterday I said that time is of the essence. I think we need to be on this. I also heard the Minister yesterday state that we did have people attend the three town hall meetings in Vancouver, Montreal and Toronto as it relates to the feasibility of a diamond bourse. What was the purpose of the Government of Northwest Territories attending those meetings?
Mr. Speaker, I think it is important to recognize the difference between a province and a territory. Ontario as a province can collect royalties on diamonds that are being produced, so we have to find other ways to maximize benefits to the Northwest Territories. One of the ways we have done that is by requiring an allocation from the diamond mines and establishing a secondary diamond industry. So that is how we’re maximizing our benefits.
We had people attend the diamond bourse hearings that were held so that we could stay on top of it and monitor what was going on with regard to the diamond bourse. There has been no indication that this is something the Ontario government will continue with; we haven’t seen the report as yet. But we are staying on top of it.
Mr. Speaker, the Minister makes a good case. Ontario is a province. The Northwest Territories obviously is a territory, and I believe that it is vitally more important for us as a territory to maximize the opportunity. Ontario has a tremendous amount of other opportunities all over the province, and we are struggling here to find opportunities for our people. We have four operating diamond mines in our territory, yet as a government we just don’t seem to grasp that we can do more and we should be doing more in terms of diamonds. I want to get a better understanding from the Minister. Again, were we just there watching an opportunity pass us by?
Mr. Speaker, I guess the way I look at it is that the majority of the diamonds produced in Canada are produced in the Northwest Territories, and if we wanted to develop a diamond bourse and it was concluded that it would be something that would be worthwhile and would benefit the residents of the Northwest Territories, then we would look at doing something similar. But this was a Government of Ontario initiative. They had hired a consultant that went around and held hearings, so we went and listened and heard what people were saying.
Thank you, Mr. McLeod. Final supplementary, Mr. Ramsay.
Mr. Speaker, my point is: why is Ontario getting out in front of the Government of the Northwest Territories? Why aren’t we getting a consultant? Why aren’t we doing some meetings? Why aren’t we talking to the industry? Why aren’t we trying to set up a diamond bourse and exchange here in Yellowknife, which is the diamond capital of North America? It’s going to be located on Bay Street, not here in Yellowknife, where it should be, and that’s a shame. Again, we need to be in front of it.
Mr. Speaker, when diamonds were first discovered ten years ago and we developed our diamond policy, we concluded that we would maximize benefits to the Northwest Territories by having an allocation of diamonds provided for the Northwest Territories and developing a secondary manufacturing industry. We are now reviewing our policy. If it comes out that a diamond bourse would provide additional benefits to the Northwest Territories over and above what we already have, then certainly we will look at that as part of our review of our diamond policy.
Thank you, Mr. McLeod. The honourable Member for Hay River South, Mrs. Groenewegen.
