Thank you, Mr. Speaker. I’m going to speak today about diamonds. Mr. Speaker, my involvement in this file dates back to the beginning of 1998 when, as a newly-elected city councillor, I was appointed to the task force on the development of a secondary diamond industry here in the city of Yellowknife. This task force, in conjunction with the territorial government, was successful at getting a secondary industry established here in Yellowknife.
Over the years, Mr. Speaker, I’ve watched this industry suffer. Mr. Speaker, factories are closing down, the government is losing millions of dollars, has lost millions of dollars, and this, to me, could have been avoided. I hold the Government of the Northwest Territories responsible for letting the industry regress. The last government seemed intent on letting it die, dismantling our diamond division, ignoring a possible sale of the Sirius plant costing us $10 million and, Mr. Speaker, this government, of which we have less than 18 months remaining, continues to neglect the secondary industry.
The policy surrounding the secondary industry has been in existence since 1999. Why is it taking so long to have this policy updated? What is our vision and our direction for our secondary industry? We have people still interested in cutting and polishing diamonds here in the Northwest Territories; they’ve invested hundreds of thousands of dollars and are waiting and waiting some more to understand what the government’s policy is going to be and rules of engagement are going to be for the secondary industry here in the Northwest Territories. These investors can’t wait around forever, Mr. Speaker. Opportunities do exist in other jurisdictions. My fear is they will leave if we do not get our act together.
Mr. Speaker, I was reading an article recently about Botswana, the world’s largest producer of diamonds. Mr. Speaker, Botswana has mined diamonds for decades. They understand, as a government, that one day the mining will stop, that they must diversify their economy. Why is it that if Botswana can figure this out, why can’t our government understand this?
We need to grow our secondary industry. I still believe we should have a bourse here and not in Toronto. In Botswana they have established the Diamond Trading Company Botswana so that diamonds are sorted, mixed and traded in Botswana. Why doesn’t the Government of the Northwest Territories pursue this type of initiative?
Mr. Ramsay, your time for your Member’s statement has expired.
Thank you, Mr. Speaker. I seek unanimous consent to conclude my statement.
---Unanimous consent granted.
In my years of following this saga, one thing I’ve grown to understand fully is that if you have rough diamonds, you have a captive audience. Seeing as our producing mines have committed 10 percent of their production to local cut and polish production, why don’t we create a Diamond Trading Company Northwest Territories and take control once and for all of our own destiny when it comes to the diamond industry?
Mr. Speaker, we can do so much more. I struggle to understand why we remain, as a government, so complacent, unwilling to unleash the great potential that we have. Thank you, Mr. Speaker.
Thank you, Mr. Ramsay. The honourable Member for Yellowknife Centre, Mr. Hawkins.
