Thank you, Mr. Speaker. On January 8, 2013, the headline in the Yellowknifer said, “Deepak International to reopen dormant diamond factory plants – Minister David Ramsay heralds rebirth to the industry.”
So, first off I want to acknowledge the Minister’s expertise and gestation. However, noting that the incubation period of the diamond cutting company has taken over two years to show results, can the Minister tell the House what benefits did the government receive by striking a deal over two years ago and how long are we locked into this deal? Thank you.
Thank you, Mr. Hawkins. Minister of Industry, Tourism and Investment, Mr. Ramsay.
Thank you, Mr. Speaker. There has been no government funding that’s gone into this. We have recouped close to $2 million in the sale of the two buildings on Archibald Street and it has taken some time, but our hope is that those factories will be running in the very near future. Thank you.
The Minister is quoted as saying, “This is a significant announcement to get the Polar Bear Diamond out there.”
What type of deal has this government struck by giving away the Polar Bear Diamond logo trademark to this company? How much did the government gain and how long are we locked into that specific deal? Thank you.
We didn’t give anything away; it’s still our trademark. There are stipulations on the use of that trademark and I’d be more than happy to give the Member that type of detail if he so wishes. Thank you.
I’d like to thank the Minister for offering. Please provide it in the House right now. Thank you.
I don’t have the level of detail the Member has requested. I’ve made an assurance to him that I will get him that level of detail. Thank you.
Final, short supplementary, Mr. Hawkins.
Thank you, Mr. Speaker. Is it fair to say that the government hasn’t gained anything in this particular deal since it’s been struck? How can this government, if it’s not receiving any benefit for locking into a deal with the Polar Bear Diamond trademark with one company, is it fair to say that maybe we should be looking around to consider marketing this option to a company that wants to cut diamonds here in the Northwest Territories? Thank you.
I wouldn’t characterize it as the government not gaining anything. As I mentioned, we sold two buildings on Archibald Street for almost $2 million. We are collecting lease payments on those properties at the airport, so we are gaining in that regard. Again, our hope is that those factories are up and running soon and that we do have the Polar Bear brand back out in the marketplace at some point in time. Thank you.
Thank you, Mr. Ramsay. Member for Inuvik Boot Lake, Mr. Moses.
