It was a sign of things to come as De Beers Canada defended plan to close the Snap Lake mine to the Mackenzie Valley Land and Water Board this week.

Fielding questions in an Explorer Hotel conference room Tuesday and Wednesday, De Beers representatives pushed back against a suggestion by the Government of the Northwest Territories (GNWT) suggestion that the companySA国际影视传媒檚 estimates of environmental impact on the lake were off.

Representatives also remarked that investors were watching how regulators handled the situation as an aging industry prepares for other closures.

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SA国际影视传媒淢any people are watching what is rolling out in this hearing. Because, yes, this is the first of several diamond mines that will be closing in the future,SA国际影视传媒� Erik Madsen, lead of corporate affairs Canada for De Beers, said in his closing statements Wednesday afternoon.

In that economic climate, Madsen described investors as wondering if will face SA国际影视传媒渃onditions that are not evidence-based, not easily achievable, and could impose undue financial burden.SA国际影视传媒�

The reclamation plan

De Beers closed Snap Lake in , when the firm determined the troubled underground mine 220 kilometres northeast of Yellowknife was no longer viable.

It submitted its final closure plan for the site to board in March, costing roughly $85 million.  With its current license set to expire next year, this week it went before the Board to renew its water license necessary for carrying out that plan.

Projected to start in 2021,

The first runs eight years, at which time SA国际影视传媒渕ine facilities will be decommissioned or demolished, water management systems will be adapted for closure, and the land will be reshaped and revegetated,SA国际影视传媒� the plan submitted in March states.

The next phase runs at least 10 years and involves monitoring monitoring the mine to see if itSA国际影视传媒檚 meeting its closure goals SA国际影视传媒渁nd ensuring the successful long-term closure of the site," the plan states.

SA国际影视传媒楾he cost when this goes wrongSA国际影视传媒�

At the meetings, Northwest Territories government officials questioned the accuracy of De BeersSA国际影视传媒� water modelling, and the potential impact of effluent. Both the federal and territorial government recommended tighter limits.

Resident Todd Slack also voiced his concern at the public hearing.

SA国际影视传媒淭he point ISA国际影视传媒檓 trying to make here is there are going to be a lot of predictions and a lot of modelling here. All of which is inherently going to be wrong. (But) itSA国际影视传媒檚 not necessarily going to be wrong to the same degree,SA国际影视传媒� he said, explaining he found it helpful to be cautious.

In this experience, he said there was a level of certainty that the evidence didnSA国际影视传媒檛 support. SA国际影视传媒淲hen I hear again the project is certain of whatSA国际影视传媒檚 going to happen. I think (we) should be approaching this with a level of concern and skepticism,SA国际影视传媒� Slack said.

According to Slack, there were also different motivations at play in the meeting. Northwest Territories was attending the meetings to represent all citizensSA国际影视传媒� interests, though it may not always be necessarily right. He compared this to a firm whose aim is SA国际影视传媒渢o try to reduce their securities, to try to have lower limits, to try to make it easier for them to walk away from this site.SA国际影视传媒�

SA国际影视传媒淲e as a citizenry, know the cost when this goes wrong,SA国际影视传媒� he said, adding that the board should be cautious moving forward.

De Beers responds

In closing remarks to the Board, Erik Madsen defended the diamond giantSA国际影视传媒檚 SA国际影视传媒渞obustSA国际影视传媒� closure plan.

Madsen warned that delaying approval would hinder the closure of the site, and further cool investorsSA国际影视传媒� attitudes to the Northwest Territories. He pointed to OctoberSA国际影视传媒檚 Territorial election, where several candidates expressed concern over the future of NWTSA国际影视传媒檚 diamond industry.

Upping investor confidence emerged as a priority, he said, adding that the Board SA国际影视传媒渉ad a role to play in this.SA国际影视传媒�

Existing needs have been met and the SA国际影视传媒渨ater remains good to drink and the fish good to eat in Snap Lake and beyond,SA国际影视传媒� Madsen said, arguing that there had been no evidence presented to the contrary. According to him, the De Beers plan responsibly managed effluent levels.

Madsen added government argued to place to place tighter limits on De Beers because it thought the company could reach them, not because of risk to the environment.

SA国际影视传媒淪tricter limits will not result in improved environmental outcomes for Snap Lake,SA国际影视传媒� Madsen said.