Debates of August 15, 2007 (day 10)

Thank you, Mr. Speaker. Thank you, colleagues. I am pleased to inform the House today that the Government of the Northwest Territories and De Beers Canada have reached agreement regarding the provision of rough diamonds from the proposed Gahcho Kue Diamond Mine, currently in the environmental impact review process.

The agreement will ensure continued support for our secondary diamond industry by making available 10 percent of diamonds by value from the proposed Gahcho Kue Diamond Mine for sale to approved NWT diamond manufacturers.

To ensure the continued integrity of our government certification program, our agreements with De Beers also include provisions that will allow us to monitor the sorting process for these diamonds.

This deal, together with the Snap Lake arrangements confirmed in February of this year, reflects the continued commitment of De Beers to the Government of the Northwest Territories value-added diamond manufacturing program.

Mr. Speaker, approximately 100 people are currently employed in various aspects of this emerging secondary industry.

Our secondary diamond industry is contributing to our region’s exports of manufactured goods enhancing economic diversification. Other benefits include increased revenue for the local retail jewellery industry and tourism spin-offs.

In addition, Mr. Speaker, the government is collecting revenues associated with trademark royalties and authenticity certification. Over 20,000 certificates were issued in 2006-07 for diamonds mined, cut and polished in the NWT. It is estimated that we will issue approximately 24,000 certificates in 2007-08.

This agreement, Mr. Speaker, is a testament to the partnership approach that we are taking to build our northern economy.

I would like to commend De Beers Canada for their support and investment in this unique and challenging economic environment, in which we are building a sustainable local and growing diamond cutting and polishing industry.

---Applause