David Ramsay

Thank you, Madam Chair. I’ve never seen that level of detail at committee but the suggestion is one that it’s the first time I’ve heard it. Maybe we could go to Deputy Minister Vician for a response.

Yes, Madam Chair. There’s approximately $7 million that remains.

Thank you, Madam Chair. Interest was derived from the Opportunities Fund. Yes, there is the one big loan but there are a number of other investments through the Opportunities Fund that would have built up the interest. This is a portion of that interest that was taken out to be used for the Economic Opportunities Strategy and the Mineral Development Strategy, Madam Chair. Thank you.

Thank you, Madam Chair. I thank all of the Members for their general comments in regard to ITI’s budget. I’ve made a number of notes. You’ll have to bear with me as I go through a number of the points that the Members made.

A number of Members covered some of the same topics, so I’ll try to get to everything. Hopefully I don’t miss anything. If I do, it could certainly come up under detail if Members have specific questions.

The first issue that was brought up was the cost of electricity and what we’re doing about it. I think we really need to look at bringing down costs system-wide. We’re...

I look at the Aboriginal Pipeline Group and its involvement in the construction and development of the Mackenzie Gas Project, and that is a good example of the Aboriginal people of the Northwest Territories potentially owning one-third of a major piece of resource development here in the Northwest Territories, a $17 billion pipeline.

My belief – I know Mr. Bromley and I have worked together for a long time – is that we have to look at opportunities to invest in resource development. Whether it’s the Aboriginal development corporations or governments or our government, in fact, that’s how real...

Yes, please, Madam Chair.

That is exactly what MLA Blake and I were doing on our recent trip, is trying to talk to producers to ensure that rough diamonds are available here in Yellowknife. Again, that’s my goal as Minister, to get agreements in place that will see that happen. We’re looking at Gahcho Kue and, again, the landscape has changed with Harry Winston purchasing BHP, it’s going to be called Dominion Diamond Mining now, and the prospect, I know Rio is interested in looking at their operation when it comes to diamonds. There’s a prospect there that one company could own both of those mines and that certainly...

As plans for the establishment of that mine move forward and it gets through the regulatory process, we will certainly be ramping up discussions on that specialized economic zone. We are also looking at the possibility of putting wholesale power into that area, as well, to make it more economical to have a hydro facility and the jobs coming to the South Slave region. So we continue those discussions. We want to see the regulatory process play itself out. Again, we do look forward to the jobs and the opportunities that such a development would bring.

Thanks, Madam Chair. Yes, we could look at putting a separate line item for that. Thanks.

Thank you, Mr. Speaker. We’ve been discussing, with Avalon, their plans for the development of a mine at Thor Lake for a number of years now. Last October Cabinet gave us the mandate at ITI to look at the establishment of a socio-economic agreement with Avalon. We are currently in negotiations with Avalon on a socio-economic agreement and we hope to see that agreement put in place within the next several months. Thank you.