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Mining industry dinner lobbies fresh batch of MLAs

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President of the NWT and Nunavut Chamber of Mines Gary Vivian says it may be time to decide if its sunup or sundown for the territory's mining industry. Nick Pearce / NNSL Photo

Mining in the North will be on the rocks without timely action.

That was the message for the incoming MLAs who milled into an Explorer Hotel conference room Tuesday evening.

With most MLAs in attendance (Frame Lake's Kevin O'Reilly and Yellowknife Centre's Julie Green were holding a joint constituency meeting that night) President of the Chamber of Mines Gary Vivian stressed the need for further exploration and publicly funded infrastructure to jolt the industry and compete with neighbouring jurisdictions like Nunavut and Yukon.

Master of Ceremonies David Connelly addresses MLAs on Tuesday evening at the Explorer Hotel.
Nick Pearce / NNSL Photo

SA国际影视传媒淚nvestment in NWT has dropped significantly,SA国际影视传媒 Vivian told the room. According to him, that's mostly for two reasons: declining access with more protected areas and a SA国际影视传媒渢oughSA国际影视传媒 regulatory regime.

The presentation also cited a 40-year gap in major federal infrastructure investment. However, Range Lake MLA and premier candidate Caroline Cochrane noted the Slave Geological Province survey received federal funding. Master of ceremonies David Connelly called these studies the government's SA国际影视传媒渟hut up and go away for four years.

SA国际影视传媒淚t's a cheap way to buy you off,SA国际影视传媒 he said.

Connelly added earlier that SA国际影视传媒渢he proof was in the pudding:SA国际影视传媒 there hasn't been any significant greenfield exploration projects during the previous three assemblies. He said international investors perceived the NWT as unwelcoming and SA国际影视传媒渁 bad place to invest.SA国际影视传媒

He said association with carbon, especially diesel, oil and gas, will mar the social licence larger firms have been working to build up in the communities where they operate, discouraging them from investing in projects associated with higher emissions.

SA国际影视传媒淚 don't think we'll get a major investor in the Northwest Territories ever, unless we can show their board we have green power coming to the project,SA国际影视传媒 he said.

The meeting follows a series of dire-sounding announcements for the industry. Credit agency Moody's recently downgraded a bond issued by the parent company of Dominion Diamond SA国际影视传媒 majority owner of the Ekati diamond mine, and a 40 per cent stakeholder in the Diavik diamond mine SA国际影视传媒 as a bond SA国际影视传媒渙f poor standingSA国际影视传媒 and SA国际影视传媒渟ubject to very high credit risk.SA国际影视传媒

In July, the Conference Board of Canada projected an economic slump as the territory's mining industry matures with few major economic replacements on the horizon.

For his part, Vivian didn't see things at Ekati as negatively as Moody's.

SA国际影视传媒淏ut they are exploring. They haven't given up,SA国际影视传媒 he said of Dominion. SA国际影视传媒淭hey aren't walking away.SA国际影视传媒

He said the stalled Jay extension at Ekati is currently uneconomic (Dominion recently told Yellowknifer the project SA国际影视传媒渋s still under review.SA国际影视传媒)

President of the NWT and Nunavut Chamber of Mines Gary Vivian says it may be time to decide if its sunup or sundown for the territory's mining industry.
Nick Pearce / NNSL Photo

And the influx of synthetic diamonds is having a SA国际影视传媒渄rasticSA国际影视传媒 effect on the marketability of small diamonds, according to Vivian.

The companies are affected by the downed price, he said. SA国际影视传媒淎 lot of the stuff they're going after right now isn't high quality stuff.SA国际影视传媒

While the higher quality rocks are in their mines, it may come down to consumers going through the lower quality gems first, Vivian said.

He said strategies to boost mining capacity in the territory could include incentives for junior firms to exploration in the NWT, and pushing larger companies to develop now land they hold long-term leases on, he said.

Vivian has made similar presentations to other groups of MLAs. In closing Tuesday, he flipped to a slide of a probable sunset and asked if it was sunrise or sundown for the territory's mining industry.





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