Thank you.
Currently we already have a resource royalty sharing agreement. Of all the resource royalties that are collected in Northwest Territories, we collect all the royalties. We remit the federal portion to the federal government.
We have a resource revenue sharing agreement with the aboriginal governments that have signed onto devolution. We share 25% of the resource royalties that are collected with the aboriginal governments that have signed on. They use that money for whatever purposes they see fit.
We want to expand that to include the offshore. We are in a negotiating process and have been for at least six months now. We are negotiating co-management and also resource revenue sharing of the offshore. It has benefited the aboriginal governments that have signed onto devolution. Not all of the aboriginal governments have signed on. The door is open to them. We would welcome them if they chose to sign on.
It certainly has been a benefit to the Northwest Territories.
Thank you, Madam.
