Mr. Speaker, at the start of National Mining Week today I am sounding alarm bells about the future of Canadian mining.
Last week the head of the Prospectors and Developers Association of Canada said: "Canada is losing market share of exploration capital at an alarming rate". As a prospector myself, I can assure the House that unless we fix our mining regulatory mess today, Canada will not have the new mines it needs tomorrow.
We must understand that we have had 15 years of declining mineral reserves from 1980 to 1994. The recent slight increase in investments results almost entirely from only two discoveries: diamonds in the Northwest Territories and nickel in Labrador.
Canada has the geology. We have reliable land tenure. But we do not have a simple, clear and timely system of government regulation. This government must deliver now on its promise of regulatory reform for mining or say goodbye to thousands of future Canadian jobs.