Mr. Speaker, mineral exploration and development is a cornerstone of the NWT economy. Ensuring the continuing health of this sector is critical if we want to grow our economy and achieve our vision of a strong, prosperous Northwest Territories. Last fall this government reached a major milestone when it released the NWT Mineral Development Strategy. This is a comprehensive plan to ensure the long-term growth of a sustainable mining industry that will create jobs and economic opportunities for the people of the NWT.
As Members of this Assembly are aware, this strategy was a partnership effort. It was developed in conjunction with the NWT and Nunavut Chamber of Mines with extensive input from the mining industry, local and regional governments, and NWT residents from around the territory.
Mr. Speaker, we are developing an implementation plan to put the recommendations made in the Mineral Development Strategy into place. We expect to complete our plan by the end of March, but we are not waiting to get started and have already set the wheels in motion.
Although ITI has taken the lead on the development and implementation of the Mineral Development Strategy, other GNWT departments will play a key role. As the strategy involves several recommendations related to training, Aboriginal engagement and capacity building, sustainability promotion and regulation, we are working closely with other GNWT departments to ensure a cohesive approach.
Mr. Speaker, the GNWT is proposing to invest close to $2 million in initiatives outlined in the Mineral Development Strategy. By making immediate investments in the future of mineral development and exploration in the territory, we can transform our resource potential into real opportunities for our residents, businesses and communities across the NWT.
Solid geoscience information is the foundation on which resource development is built. A good geoscience knowledge base represents a key competitive advantage for jurisdictions that want to attract mineral and petroleum resource investment. Through the Mineral Development Strategy, we will provide better and more comprehensive geoscience information and research.
Comprehensive, accurate identification of where these resources might be found is essential to making new discoveries and fostering new development.
We are also proposing to create a Mining Incentive Program aimed at attracting mineral exploration. These types of programs have been successful across Canada. Yukon is a prime example of where this has worked.
Earmarking funds to market the NWT as an attractive place for mineral exploration and development investment is also a key deliverable in the Mineral Development Strategy. We will also make investments to enhance Aboriginal engagement and community capacity building, which will assist organizations to prepare and participate in mineral developments in their area.
Mr. Speaker, these investments will play key roles addressing the decline in exploration expenditures and firmly establish the NWT as a favourable jurisdiction for sustained mineral exploration investment.
To ensure we stay on track, the implementation plan will contain a performance evaluation framework that will help to assess our progress. I look forward to returning to this Assembly annually to share our achievements.
Mr. Speaker, this government strongly supports a balanced approach to developing and advancing economic growth. Resource development must not only be environmentally and socially responsible and sustainable, it also needs to yield real economic benefits to NWT residents, communities and businesses.
The Mineral Development Strategy is part of this government’s plan to grow our economy, which also includes the Economic Opportunities Strategy, strategic infrastructure investments, and new energy and power system plans.
Alongside investments we are making in our people through initiatives like the Anti-Poverty Strategy and Early Childhood Development Framework, we are doing our part to help create a strong, prosperous Northwest Territories. Thank you, Mr. Speaker.
Thank you, Mr. Ramsay. The honourable Minister of Health and Social Services, Mr. Abernethy.
