The Government of the Northwest Territories (GNWT) says it is implementing temporary relief measures to support the territory's diamond mining sector.
These supports are limited to 2025–2026 and are not meant to sustain mining operations or replace corporate financial obligations. According to an April 22 press release, the GNWT will:
- Double the number of local diamond valuations in 2025–2026 and cover the associated costs.
- Temporarily lower the 2025 property tax rate for mines, giving a little more than $11 million in tax relief to the Diavik, Ekati and Gahcho Kue diamond mines.
- Return remaining money from the Large Emitter Fund to the Ekati and Gahcho Kue mines to offset their carbon tax payments. Diavik mine already used some of this fund for solar panels in 2024.
- Keep working with Indigenous governments and development groups to get more federal support for infrastructure and transition projects.
The territory's diamond industry faces several challenges right now, including low global diamond prices, inflation, supply chain issues and new tariffs, the GNWT stated. These factors have led to major financial losses and increased uncertainty in the sector, it added.
In response, the territorial government stated its new measures respond to economic concerns raised by industry leaders and Indigenous development corporations.
"Without action, there is a clear risk of disruption to Northern jobs, contracting opportunities and the economic stability of communities that rely on the sector," the GNWT's news release reads.
Diamond mines also employ more than 1,000 Northerners and contribute about a fifth to the NWT’s gross domestic product.
The temporary property tax reduction for the mines applies only to the 2025 tax year, the GNWT noted.
