Mr. Chairman, the combined impact of the Lupin closure, Con and Giant Mines both temporary or permanent shutdowns, cutbacks and employee lay offs, et cetera, has been a loss of 600 jobs directly in the northern economy. Not the Yellowknife economy, the northern economy and over $25 million in northern business expenditures. I want to assure my colleague from Tuktoyaktuk, as a Finance Minister from Rankin Inlet, who happens to live in Rankin or did, this decision was not made lightly. It is made in light of and I believe and others believe, my Cabinet colleagues believe, is the overall fiscal health of the territories.
Now, whether we would extend this to other operations should they be in trouble, in relationship to an operating mine, I would think the precedent has been established. If my colleague is asking is this precedent setting, in relationship to exploratory dollars in terms of a non-operational mine, I am not sure, I would have to consult with my colleagues. This assistance is provided to an operational mine in its exploration program with the reasonable expectation that the mine life will continue beyond the current life expectation of the mine, if you know what I mean.
It is done in light of the fiscal impact this mine would have on the territorial economy, should it close. Thank you.