Mr. Speaker, today I would like to highlight work this government is doing to support the mining industry. We want to ensure we have a territory where exploration and development are undertaken in a responsible manner that benefits all Northwest Territories residents.
I recently attended the Mineral Exploration Roundup in Vancouver. This is the world’s premier technical mineral exploration conference, with attendees from over 30 countries. At the roundup, I had the opportunity to speak with people from across Canada and the world about the vast mineral potential of the Northwest Territories. I also met with a number of companies operating in the NWT to listen to their perspectives and concerns.
Mr. Speaker, mining and mineral exploration have brought significant economic opportunities to our territory such as jobs in the mines and with exploration companies, contracts for planes and helicopters to those mines and exploration sites, and many other spinoff benefits in the purchase of goods and services from northern businesses.
Mining and mineral exploration has also provided us with important infrastructure such as the railline to Hay River, the hydroelectric transmission line between Bluefish and Yellowknife, and the Taltson hydroelectric dam.
We support our mining industry to ensure continued economic growth and keep our mining sector strong. For example, our ongoing partnership with the federal government provides funding for geoscience research. For every dollar invested in government-funded geosciences in the NWT, five dollars are spent by mineral exploration companies.
Geoscience research supports future economic development by attracting investment to our territory and creating spinoff exploration projects; projects that provide employment and business opportunities for NWT residents. We will continue to do our best to realize sustainable Northwest Territories opportunities from this development.
Making progress on devolution will be one of the most important ways we can support the mining industry in the NWT. We need only look to Yukon to see how people can benefit when Northerners are in charge of the development decisions in their own territory. We look forward to a future when the people of the NWT can take charge of the decision-making and have a direct say in our economic future and what happens in our territory.
Mr. Speaker, our mines have also brought significant opportunities to NWT residents and businesses. Since the construction of the first diamond mine in 1996, we have seen more than 17,000 person years of northern resident employment. We continue to see Northerners trained for jobs in the mining industry. With the Mine Training Society of the NWT, we are working with Aboriginal and industry partners, as well as the governments of Nunavut and Yukon to ensure people have the skills they need to take advantage of new employment opportunities.
Also since this time, the three diamond mines – BHP Billiton’s Ekati, Rio Tinto’s Diavik, and DeBeers’ Snap Lake mines – have spent more than $8 billion on goods and services from northern businesses. Nearly $4 billion of those purchases were spent at Aboriginal-owned businesses.
Even through challenges such as the global downturn in the economy, the diamond mines have remained sincere in their commitments to the North and have been strong corporate citizens. Through sponsorships and donations, these mines have supported community projects and programs across the territory.
Mr. Speaker, we have experienced challenges attracting investment from mineral exploration companies. We have heard the concerns of industry about the uncertainty of investment in mineral exploration in the NWT. As a government, we are committed to work with the federal government, Aboriginal governments, industry and other stakeholders to address the effectiveness of our regulatory regime so we can provide potential investors with a stable investment climate.
We have a wealth of mineral potential in the NWT: gold, diamonds, tungsten, rare earths and more. Exploring this potential could lead to additional mines that will employ hundreds of NWT residents for years to come. There are seven more projects currently in the works that have the potential to attract more than $2 billion in new investment and add over 2,000 new jobs in the NWT. We remain committed to supporting the industry and plan to come forward with a sustainable economic development and mining strategy to ensure we realize our full mineral potential and our residents see the benefits.
A prosperous mining industry is a key element in achieving our Assembly’s goal of a diversified and healthy economy that provides all regions and communities with opportunities and choices. Mr. Speaker, we must continue to do all we can to promote and support a strong mining and mineral exploration sector in the NWT. Thank you, Mr. Speaker.
