Mr. Speaker, mining has always driven the North's modern economy. When I was growing up, you were most likely either the kid of a mine employee or of a public servant. Today, mineral resources and the public sector are driving our territory's workforce and cash flow. Although the NWT is rich with opportunity, mineral exploration is stagnant. Natural Resources Canada estimates that mineral exploration in the NWT fell 54 percent over 2020, and while all mineral spending across Canada dropped during COVID-19, the NWT fell from the seventh highest in ranking across Canada down to the 11^th.

Mining report cards produced from the Fraser Institute Survey of Mining Companies, the C.D. Howe Report, and the Canadian Centre for Policy Alternatives offer some insight. These reports suggest that the NWT is the second-lowest attractive location for mining investment in Canada. The NWT is known for long, uncertain permitting processes. Roughly one third of regulatory permits are issued in under six months in the Northwest Territories, yet Yukon and Nunavut can issue over 60 percent of permits within the same time frame. Our northern neighbours can double our pace of development in terms of permitting, Mr. Speaker.

What is most concerning, however, is the fact that the GNWT does not meet their own timelines, creating further uncertainty for doing business in the Northwest Territories. Improved regulatory communication, transparency, and consistency are necessary to attract investors to our resource-rich territory, and these fundamental pillars to building an attractive policy environment for mining are the NWT's weakest policy points. Implementing the large infrastructure priorities identified in the mandate of the 19^th Assembly, such as the Slave Geological Province Corridor and the Taltson Hydro Expansion Project, are not feasible unless there are large-scale resource development projects to support them.

Mr. Speaker, diamond production has reached its peak, and private investment in the NWT has been steadily declining for years. How is the GNWT turning the tide on this trend? Will the GNWT effectively increase transparency and consistency in the regulatory process, and how will the GNWT improve its own internal timelines in the regulatory process? I will have questions for the Minister of Industry, Tourism and Investment about specific efforts to increase investor confidence and bolster exploration and mining in the NWT. Thank you, Mr. Speaker.