Madam Speaker, Timmins—James Bay is one of the greatest mining regions in the world, and in the last six or seven years we have had two really stark examples.
De Beers invested $1 billion on the James Bay coast. It set up the Victor diamond mine and signed impact benefit agreements with local communities. We have spoken with De Beers on numerous occasions about problems in some of the communities and about support throughout the region. The relations are not always perfect, but here is a company that invested in Canada and is building an asset.
On the other hand, we had the corporate raider, Xstrata, that had a pretty poor track record. All the government would have had to do was look into any reports about its record; it just had to Google Xstrata and it would have seen that this was a company to think twice about. Yet it was allowed to walk away with one of the world's premium mining companies, Falconbridge, and it gutted the company. Xstrata gutted our copper refining capacity.
Why does my hon. colleague think the government cannot tell the difference between targeted foreign investment and foreign takeovers that are gutting our resources and vandalizing our—