Mr. Speaker, over the past several years, the Northwest Territories has led all other Canadian jurisdictions in mineral exploration expenditures. The target of most of these exploration expenditures has been diamonds in the central Northwest Territories, primarily in the North Slave and Kitikmeot regions. Other regions have not seen a significant amount of mineral exploration.
There are currently two base metal mines in the Baffin region. Polaris and Nanisivik. Eventually these mines will close. To date, there are no advanced exploration projects in the region which hold the promise of developing into new mines in the next decade.
Mr. Speaker, we must continue to conduct mineral exploration in the Baffin. Due to the high costs and challenges of exploration in the north, we must find ways to stimulate interest and share current geological data.
To that end, a new partnership. which we hope will be the beginning of many, is in place. The Department of Resources. Wildlife and Economic Development, the Geological Survey of Canada and the Qikiqtaaluk Corporation are embarking on an initiative to increase and more fully utilize the available geological knowledge base in the Baffin region.
The objectives of the project are to assemble the available geoscientific data and make an assessment of the potential for minerals which can be mined economically. The research project will focus on the Melville Peninsula and central and northern Baffin Island.
Geoscience work is an important part of mineral exploration development. Geological mapping and sample collection by government agencies creates a knowledge base which mineral exploration companies can utilize while conducting their activities. The products of this partnership project will be used to promote mineral exploration and lay the groundwork for future geoscience research and mapping projects.
Mineral exploration and mining industries provide economic growth, increased employment and expanded business opportunities. We are working to ensure that the Baffin, like other regions in the Northwest Territories, takes advantage of the current growth in mineral exploration and the economic opportunities it provides. Partnerships of this type will ensure that we are positioning ourselves to encourage and to maximize opportunities for economic development related to mineral exploration and mining industries. Mahsi.