Minister Caitlin Cleveland issued the following statement today in response to the Government of Canada’s decision to provide Large Enterprise Tariff Loan (LETL) financing to Burgundy Diamond Mines Ltd., the operator of the Ekati Diamond Mine:
“Today’s news will come as a relief to many Northerners. Ekati is an important private-sector employer in the Northwest Territories, and this federal decision will help provide support at a difficult time for workers, their families, Northern contractors, and communities that depend on the mine and its supply chain.
“I want to thank the Government of Canada for recognizing the national importance of this industry and for providing its support. The decision to provide financing through the Large Enterprise Tariff Loan program sends a clear signal that the North matters to Canada’s economy, and that Northern companies and Northern workers deserve the same level of urgency and support that industries in the South have received during moments of crisis.
“At the same time, this is not the end of the work. The diamond sector is facing serious headwinds, from volatile global markets to changing consumer demand to geopolitical tariffs that have driven down the value of rough stones and increased the cost of doing business. We do not assume that one financing decision alone will resolve those pressures. More work will be needed, and we will continue working with our partners to do everything possible to support and protect Northern workers and Northern businesses.
“In the face of mounting challenges, earlier this year our government took action to help stabilize the diamond sector and safeguard Northern jobs. We provided targeted relief to ease short-term financial pressures, reduced the mineral property tax rate, and returned Large Emitter Fund balances to the mines. We did this to protect Northern jobs, Northern businesses, and Indigenous partnerships built over decades. Our expectation has been consistent from the start: protect Northern employees, keep people working, and honour commitments to local suppliers.
“Our priority continues to be people. We will remain in close contact with the company, Indigenous governments, and affected contractors to make sure employees have clear information, access to supports, and stability wherever possible. For Northern businesses, we will continue offering advice and support through our regional offices, including programs that help companies maintain capacity, pivot where necessary, and pursue new opportunities.
“We are also focused on protecting the land and water. The Government of the Northwest Territories holds significant financial security for the Ekati site, and we will continue to ensure that regulatory obligations, environmental safeguards, and community expectations are met. Responsible resource development must remain the standard in the Northwest Territories.
“Looking ahead, the North’s resource economy is entering a new chapter. Our government’s focus is on creating stability today while building the next generation of opportunities, from critical mineral projects to strategic, nation-building infrastructure. We are working with Indigenous governments, industry partners, and the Government of Canada to advance projects like the Mackenzie Valley Highway, the Taltson Hydro Expansion, and the Arctic Economic and Security Corridor. These investments will create jobs, unlock new mineral projects, strengthen supply chains, and reinforce Canada’s Arctic sovereignty and security while positioning the Northwest Territories as a key contributor to the country’s economic and energy future.
“The GNWT will continue to stand behind the resource sector. We remain committed to supporting Northern workers and businesses, improving regulatory efficiency, and creating the conditions for responsible projects to move forward with confidence. This announcement is an important step, and we welcome it, but our work continues. The diamond industry has long strengthened communities, supported local businesses, and created opportunities across the North. We are grateful for what this industry continues to contribute, and for the people who make it work every day.
“To everyone working at Ekati, to the Northern businesses that have supported this mine for decades, and to the communities who have helped build and sustain this industry: you have built more than a project. You have built careers, capacity, and opportunity across the North. Our government will continue to stand with you as we navigate this moment and as we build what comes next.”
For media inquiries or to arrange an interview with Minister Cleveland, please contact:
Cabinet Communications
Government of the Northwest Territories
PressSecretary@gov.nt.ca