Regency D, British Columbia
October 1, 2007

Thank you very much, Michael [Michael McPhie, President and CEO, Mining Association of BC]. It is great to be back

Let me say that since being appointed the minister I've spent a lot of time with the Mining Association of Canada and the Mining Association of BC, with industry folks and government officials. And one of the issues that came up time and time again is the complete frustration with our regulatory system – how it's too slow, it's unpredictable, and it's designed without efficiency and how we have to do something.

I was told that there was no coordination, that there was no accountability in the decision process. And that such a system was an obstacle to investment. And that's key when you think about it how important investment is to innovation and Canada's competitiveness. Furthermore, it was clear that the system was slow and unpredictable, and could not adequately respond to changing environmental priorities.

The Prime Minister and my cabinet colleagues agreed that action had to be taken. And today we are launching the result.

I am proud of the regulatory initiative we're launching today. It's going to make a difference in Canada's mining sector as well as other industrial sectors that have major resource developments.

I'm pleased to announce that $150 million over five years is being provided to establish a Major Project Management Office to increase the scientific and technical capacity of key regulatory departments in Ottawa.

In short, we are addressing the obstacles that have been in your way, while at the same time strengthening our regulatory system.

There are major advantages to this initiative. The Major Projects Management Office will provide industry and other interested parties with a single point of entry into the federal regulatory process. The Major Projects Management Office will provide what it's name implies. It will provide project management for resource projects that are going through the regulatory system.

It will track projects as they progress through the regulatory system and work with regulatory departments to identify and solve problems. Its tracking system will also let you – stakeholders and the public – track the progression of individual projects. This will be a transparent system.

At the beginning of the process, the office will establish formal agreements for each project. These agreements will include timeframes and targets. When necessary, the office will intervene to address blockages of the system. And finally, the Major Projects Management Office will conduct research, identify areas where problems exist and pilot new approaches to improve Canada's system in both the short and longer term.

The creation of the Major Projects Management Office will provide oversight and accountability to the regulatory process, and it will improve the timeliness and consistency of regulatory approvals.

I want to emphasize that this initiative will not weaken Canada's environmental standards. In fact, to the contrary, it will strengthen and uphold our standards.

One major factor that has contributed to system delay is a lack of capacity in the number of regulatory departments and agencies. These departments and agencies have also been facing an exponential increase in the number of major projects. These projects have grown by some 200 percent in the last three years alone. Currently, there are over 50 mining projects seeking federal regulatory approvals in Canada, with almost half of them right here in British Columbia.

All aspects of the current system are overtaxed. New investments in environmental assessment and regulatory capacity will not only improve the efficiency, predictability and accountability of the federal regulatory system. They will also improve its effectiveness.

When you succeed, all of Canada succeeds.

So, again, I want to say that I'm very proud of this initiative. Instead of pointing fingers or calling for another study, we are taking action. That is what we are elected to do. Today we're taking concrete steps to improve the accountability – the transparency – the timeliness and the predictability of the federal regulatory process. Our goal is to start accepting projects into this office early in the new year, as early as January. This is ambitious, but we'll make sure we deliver on these timelines.

This initiative will improve the competitiveness of Canada's resource industries while providing the scientific and technical capacity needed to uphold Canada's world-class environmental standards.

With that, I'd like to thank you very much for inviting me to your conference and allowing me to make this announcement. I look forward to working with all of you for many years to come and to supporting you in every way I can.

Thank you.