23 April 2025
(Yellowknife, NT – April 23, 2025) The NWT & Nunavut Chamber of Mines (the Chamber) applauds the Northwest Territories government’s recent announcement of relief measures to support its diamond mining sector.
NWT’s largest industry is being hit by pressures and uncertainty created by steep diamond price declines, inflation pressures, supply chain disruptions, and most recently, emerging tariff impacts.
“This support recognizes just how essential our diamond sector is to the economic well-being of the Northwest Territories,” said Chamber President Kenny Ruptash. “Helping our mines weather these compounding pressures will preserve more than just economic output — it safeguards local employment, Indigenous business capacity, and ensures that northern communities continue to thrive as they have over the past 25 years.”
As the largest private sector contributor to the economy, the government reports the mines have created 20% of the GDP under current depressed market conditions. During years of strong commodity prices, diamond mining’s contribution has been as high as 40%.
Indigenous Development Corporations also expressed their concerns to the GNWT and noted support from the diamond mines has enabled capacity development of IDC’s businesses , with 355 Indigenous jobs providing $39.6 million in employment income for local Indigenous residents and $104 million in revenues in 2023.
“The partnerships between our mine operators and Indigenous development corporations have played a vital role in building a stronger, more self-reliant NWT — and by extension, a stronger Canada,” said Chamber President Kenny Ruptash. “These contributions go far beyond IBAs and SEAs. Operators have consistently acted as trusted neighbours and economic partners within our communities.”
Ruptash added, “We’re encouraged by the leadership of the territorial and Indigenous governments in pursuing federal support for the mining sector. This announcement is a step in the right direction, but it must be part of a broader strategy — one that includes modernizing our regulatory framework to attract investment in exploration and unlock the next generation of northern mines.”
QUICK FACTS
(Source: 2023 Socio-Economic Agreement Report For Mines Operating in the Northwest Territories)
From 1996-2023, benefits from NWT diamond mining include:
For more information on the NWT and Nunavut minerals industry, please visit the website at www.miningnorth.com or contact Karen Costello, Executive Director at Tel: 867-222-5281 or email karen.costello@miningnorth.com.