Mr. Speaker, I move, seconded by the honourable Member for Thebacha, that Bill 34, Mineral Resources Act, be read for the second time. This bill sets out a framework for mineral prospecting, exploration, development, and production in the Northwest Territories. It governs the issuance of interests in minerals and related instruments. Also, it ensures the collection of geoscience information and provides tools for facilitating the progress of exploration and mining.

This bill requires engagement with Indigenous governments and organizations as part of certain processes, including in establishing restricted areas where issuance of mineral interests is prohibited and in establishing zones where exploration is encouraged.

The bill enables the establishment of requirements relating to benefits for the people in the Northwest Territories. It also requires benefit agreements for Indigenous governments and organizations for production projects that have attained a prescribed threshold size.

This bill addresses royalty valuation and collection based on the output of a mine. This bill also enables inspectors to enforce compliance with the requirements of the act. Thank you, Mr. Speaker.