Mahsi, Mr. Speaker. Mr. Speaker, this is Mining Week in the NWT. It brings to mind the contributions of many early prospectors, Mr. Speaker, names like Johnny Baker, Gilbert Labine, Darcy and Huey Arden, and more recently, Mr. Speaker, the diggers and the hunters and the finders, people like Gren Thomas, Chuck Fipke, Walt Humphries and Dave Smith, people around the North who are continuing to look for the foundation that we are building on in mining.
Gold was first found in the Yellowknife region in 1895. That is when Yellowknife started its first boom, by 1936, when the first shafts were sunk for the mines that, to some extent, are still operating.
In those 60 to 65 years, gold has seen a roller coaster ride on the price, but lately, cresting at about $325 U.S., we are seeing a renewed interest in gold exploration. It is too early to say, Mr. Speaker, if we are on the edge of another gold boom but our gold mining heritage is certainly looking brighter.
Exploration and development have come a long way since the solitary prospector staking his claim may have tramped the countryside. It is hard to believe that a little over ten years ago, Dia Met Minerals and BHP announced the discovery of diamonds at Lac de Gras. If we look ahead just a scant five years, we are going to see from the Ekati, Diavik and De Beers Winspear properties at least 12 percent of the world's diamonds by values.
In addition to exploration and mine development, we have seen the growth of cutting and polishing plants. Yellowknife is an even more cosmopolitan place now, Mr. Speaker, as we see travellers coming in and out of places like London, Antwerp and Israel.
Mr. Speaker, the NWT Chamber of Mines carries the flag for this industry. They have organized a number of activities, including a prospector's challenge, a mine rescue competition and tours of the Miramar Con Mine. Mr. Speaker, the official unveiling of the Walter A. Gibbons Memorial Mineral Display Case at its new home at the Northern Frontier Visitors' Association will take place tomorrow evening at 7:00 p.m.
I want to acknowledge the contribution of people past and present in the mining industry and I continue to look forward to great results. Thank you, Mr. Speaker.
-- Applause