Debates of October 31, 2025 (day 72)
Question 915-20(1): Environmental Securities
Thank you, Mr. Speaker. I want to ask questions of the Minister for Environment and Climate Change. A moment ago, my colleague was asking about security estimates and what would happen in a hypothetical case of a mine bankruptcy, and the Minister stated both that they would use the security deposits but also if that wasn't enough then it might have to come back to the government and we might see some supplementary appropriations being requested in this House.
Can the Minister confirm whether the securities it holds will cover the entire cost of a potential cleanup operation in the case of a company sort of failure or bankruptcy? Thank you, Mr. Speaker.
Thank you, Member from Yellowknife North. Minister of Environment and Climate Change.
Thank you, Mr. Speaker. Mr. Speaker, the security that is put forward for any given remediation plan is set by the respective board that would be associated with that regulatory process or proceeding, and that is also based on the approved remediation plan that would also have been approved by the board. Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Can the Minister confirm whether there is always an approved remediation plan approved before an operation is allowed to get underway? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker, as part of the regulatory proceedings process, the board process approves the remediation plan as well as the associated securities of that plan. Thank you, Mr. Speaker.
Thank you, Minister of Environment and Climate Change. Final supplementary. Member from Yellowknife North.
Thank you, Mr. Speaker. Can the Minister also tell us whether the formulas that are used to calculate security estimates, whether they're based on real-world evidence? Is it tested in comparison to what things cost in real life, or is it just based on a theoretical formula? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker, the Department of Environment and Climate Change provides estimates to the board. The board then takes those estimates that are provided and are the ultimate authority that sets the appropriate securities around that process. Thank you, Mr. Speaker.
Thank you, Minister of Environment and Climate Change. Oral questions. Member from Inuvik Boot Lake.