Mr. Speaker, today I would like to speak about our royalty regime. I think we recognize that, while we are working toward economic diversification, for now the NWT economy relies significantly on mining.

Aside from the training and jobs that mining provides, we benefit from the royalties and taxes that industry pays to the government, but how are royalties calculated? Are they consistent from one region to the next? How transparent is industry regarding what it pays? How effectively does government manage its side of the relationship? Are we being transparent enough? Mr. Speaker, a recent presentation on this subject certainly grabbed my attention. The report "How To Lose a Billion Dollars" comes from a new movement called Publish What You Pay. This is a global network of civil society organizations that work towards transparency and openness in the global resource sector, including royalties and taxes.

Along with other industry representative groups, they launched the Resource Revenue Transparency Working Group in 2012. Their work with government resulted in the Extractive Sector Transparency Measures Act in 2015. The resulting website lists mining companies and the payments they make to governments in Canada, including Indigenous governments.

This new openness by the extractive industry has resulted in improved transparency and accountability. It contributes to effective legislation and a stronger, more trusting partnership between industry and public governments.

This was the focus of an address at the recent Roundup conference in Vancouver. Chief Dr. Robert Joseph, cofounder of Reconciliation Canada, spoke about the importance of positive relationships and sharing between Indigenous people and the mining industry. Figures from the NWT Chamber of Mines show that companies in our region already have that focus. Our diamond mines have provided over $5 billion to Indigenous business; over 26,000 person-years of northern employment, half Indigenous; and over $100 million in community contributions, not to mention taxes collected by all levels of government.

Mr. Speaker, industry is doing its part. It is government that should be doing a better job. We currently do not provide an annual report compiling details of royalties, taxes, or other payments made to various levels of government. We should offer a concise report summarizing those figures and outlining the benefit of mining in the North. This would offer clear accountability and important detail to Members of this Assembly and the public. Mr. Speaker, I seek unanimous consent to conclude my statement. Thank you.

---Unanimous consent granted