Mr. Speaker, diamond mining in the Northwest Territories is an exciting, productive new industry that began with the development of the Ekati mine last year. Now the Diavik diamond mine in the Lac de Gras area outside Yellowknife is hoping to receive government approval to continue its development process.
When these two mines are in operation Canada will become the fourth largest diamond producing country in the world. These mines and other potential diamond sites provide a much needed source of revenue for the territorial governments as well as employment opportunities for all northerners. The Ekati mine is expected to be in operation for 20 to 25 years and represents a $1 billion investment.
The Diavik project is currently waiting to find out if further environmental reviews will be undertaken. Diamond mining is environmentally friendly, but companies are awaiting ministerial approval. Hopefully it is soon coming.