Madam Speaker,
I rise on behalf of the people of Cat Island, Rum Cay, and San Salvador.
I do so with great affection and great admiration for the people I am fortunate enough to represent.
You know, we all start somewhere – and I started my life and my education on Cat Island, a blessing which has both shaped and grounded me throughout my life.
Our beautiful islands, and the tight-knit communities who make them home, are a source of great pride to all Bahamians.
And it is on behalf of all Bahamians, throughout our archipelago, that I rise in support of the Mining Bill, a bill to reform and improve how prospecting and mining are regulated in our country.
Madam Speaker,
There is considerable and justifiable public interest in both the development and protection of our nation’s natural resources.
Bahamians want and deserve assurances that any mining operations in this country, whether led by foreign or domestic investors, will be of significant benefit to the citizens of The Bahamas, while taking every precaution to safeguard our environment and our communities.
Concerns about mining are not unreasonable. Read history, or simply look around the world today – it is all too easy to find countries in which large multinational companies are extracting natural resources while local populations benefit little.
The Bill before us prevents the establishment of exploitative mining in The Bahamas.
Madam Speaker,
We are, of course, already a nation and a people benefiting daily from our natural resources – the beauty and abundance of which are not only a source of delight and pride, and not only one of the reasons we thank God for the privilege of being Bahamian, but also – quite simply – how we make a living.
We are a tourism powerhouse because our beautiful people and unique culture have taken root in the place on earth that God made the most wondrous and beautiful.
Who would dare claim that distinction for another nation?! Let them try. The exceptional beauty of our country is vouched for – by astronauts orbiting above (who marvel at this turquoise jewel sparkling in the ocean), by the millions who visit our shores each year, and most importantly, by those of us blessed to be Bahamian.
Madam Speaker,
Our pristine waters attract visitors from around the world, and support our thriving fishing and diving industries.
Our coral reefs serve as a protective habitat for many of our marine species. The Andros Barrier Reef is the third largest barrier reef in the world, and the third largest living organism on the planet. We have one of the wonders of the world, right here in our waters. That must be cherished and protected.
Our mangroves serve as a nursery for young fish species. The mangroves in and around Andros make up one of the largest fish nurseries in the world.
The delicate ecology in our waters, and our reliance on marine resources, require us to prioritize the protection of local communities and the environment.
There are both moral and pragmatic reasons to require that any mining activities adhere to stringent and rigorous standards.
Our number one industry and our chief exports directly and indirectly rely on our natural environment.
Our livelihoods depend on our ability to protect these resources.
This is why we have so many national parks and marine protected areas, and why we anticipate creating even more.
Madam Speaker,
The history of natural resource exploitation in Andros is instructive.
The pine forests that stretched across North Andros long played host to vibrant ecosystems. But in the early 1900’s, foreign companies arrived, with machines, sawmills, and a lot of promises. The first license to harvest pine was issued in 1906. Initially, the industry focused on large trees. But by the 1950’s, Owens Lumber, an American company, began to clear out vast swathes of old-growth pine forests – for pulpwood, to feed to the paper mills abroad.
Now, it is true that foreign companies brought jobs and some infrastructure to Andros. But when they left, in the 1970’s, after extensive deforestation, Andros was left with an economy that had far too little to show for the decades of exploitation.
The lessons of this cautionary tale are clear: we cannot prioritize short-term gains over long-term sustainability, and our national interest must always come first. The logging companies came for profit – they cared most about their bottom line, not about our people, nor did they give much thought to the damage they would leave behind.
That is our work – we must defend our people, and we must protect our natural treasures, for today, and for tomorrow.
We know that pine forests in The Bahamas are more than timber—they store freshwater in their soil; they shield us from storms; they absorb carbon from the atmosphere.
When we consider the development of our natural resources, we must ensure that what we take can be replenished.
And we must ensure that development benefits Bahamians, first and foremost.
It is our responsibility to ensure that any resource development is conducted sustainably – we can leverage our resources without depleting them.
It is our responsibility to consider any proposals for resource development in the context of climate change, which threatens rising seas and more intense storms in the years to come.
And it is our responsibility to ensure that local communities are part of the decision-making, when those decisions will greatly affect them.
Today, Androsians have opportunities in ecotourism, in fishing, in agriculture, and in marine science – all industries which value conservation.
We are working to expand these opportunities, to make sure every year more Bahamians have the skills, the access, and the capital to thrive.
More opportunities means more choices – and the freedom and security to turn down resource development when the terms of the offer are not generous or responsible enough.
Madam Speaker,
We can build a path where development and sustainability walk hand in hand.
I believe this view represents a broad consensus in our country — that whatever steps we may take to develop natural resources, short-term gains cannot come at the expense of the natural environment we are obligated to preserve and defend.
Any enterprise we allow to operate in our jurisdiction must preserve our natural environment, respect our people, and conduct their business in a way that aligns with our national interests.
That is what this Bill before us is about: safeguarding our national treasures, while ensuring that the Bahamian people benefit from any mining in our country.
Madam Speaker,
In driving the introduction of a National Mining Policy, we sought and received input from major environmental stakeholders.
We had productive conversations with a variety of experts regarding best practices when it comes to protecting marine and land resources, and prohibiting unregulated mining within our borders.
Our policies seek to balance sustainability goals with the potential of new resource development paths.
To enact, administrate, and enforce the laws and policies, a new Department of Mining will be established.
And strict conditions for approval of any mining activities will be introduced.
Any entity which comes forward with the intention of setting up a mining operation must demonstrate their capacity to use those resources efficiently, as well as their financial and technical capacity.
We want Bahamians around the decision-making table, keeping a watchful eye over the operation. We want Bahamian owners who have a sense of patriotism and care about the future of our nation.
This Bill ensures that Bahamians can play key roles in these operations.
Any mining enterprise must also demonstrate how local plant and animal life will be preserved. To preserve our supply of fresh water, they must provide information on the impact on the surrounding bodies of water and on the water table. They must also show how surrounding land will be affected and outline the risk of pollution to the local environment.
These criteria must be met before any kind of right or licence is granted.
Any eligible Bahamian citizen or legal entity must also go through a lengthy and comprehensive application process, to demonstrate their capacity and intention to satisfy strict standards.
Any Mineral rights granted can also be suspended or cancelled due to any relevant breaches of the agreement and conditions or violations of this law.
Madam Speaker,
This Bill will introduce a Mining Cadastre Register, so that Bahamians can see for themselves who is applying for mineral rights and mining licences, who has received rights and licences, and the relevant details of who, what, where, when and how these activities shall be conducted.
This transparency is critical.
The natural resources of this country belong to the people.
Through this Bill, we are establishing – for the first time – the right of the Bahamian public to be made fully aware of any reconnaissance, prospecting, or mining happening in our country.
It is crucial, given our history, and given the exploitative model we see in so many places – where outsiders make profits while the people lose – that we prevent unscrupulous practices in our country.
That kind of funny business is no business at all.
It is economic thievery masquerading as enterprise.
It is the theft of sovereign wealth. And it will not happen here.
We are enshrining protections in the law, so that moving forward all such agreements must safeguard our national resources, and benefit our people.
Madam Speaker,
At the same time, we are open to negotiations with investors who come to this nation with an environmentally-conscious, and financially-fair, proposal to make innovative use of our resources.
We are all about enterprise. The more than $10 billion in investments we’ve brought in are a testament to this fact. But we are also focused on sustainable investment.
That’s why, during the course of this term, we have launched the Sustainable Development Fund, the National Investment Fund, and the Family Island Development Fund.
We are doing the foundational work so that we can earn Blue Carbon Credits to fund our developmental initiatives. The carbon credit market continues to evolve to meet changing conditions, and we are keeping pace with those changes.
We are also promoting impact investment, eco-tourism, sustainable development, national corporate social responsibility standards, and public-private partnerships, to ensure that investors are working in the areas where they can do the most good.
That is what we stand for.
It is possible to plan for prosperity and economic growth without sacrificing the environment or mortgaging our future.
Madam Speaker,
This Bill establishes that any mineral resources discovered in our country, whether on public or private land, belong to the Commonwealth of The Bahamas.
It can never be the case that mining activities are able to circumvent the law by being solely carried out on private property.
The government is entitled to collect both royalties and fees on behalf of the Bahamian people. These funds will be collected by our National Investment Fund to go toward critical infrastructure, climate resilience, and other necessary investments to build up our nation.
Under this Bill, in addition to obligations to train and employ Bahamians, Bahamian businesses must also be given first preference as suppliers of goods and services.
As we continue to renew and reform the principles which guide our expectations for investors, the inclusion of Bahamian businesses will play a major role.
We will make this requirement a part of National Investment Policy framework, so that all investors understand our expectations when it comes to including Bahamian businesses.
Through royalties, fees, and the inclusion of Bahamian businesses, we are maximising the economic impact of any mining activities in our nation. This includes the provision of a minimum 25% profit-sharing arrangement between the mining operation and the government. The government is also entitled to hold a 10% equity interest in the holder of a mineral right.
In other words, there will be no arrangements where the Bahamian people receive pennies on the dollar.
In this Bill, we are also protecting the interests of the Bahamian people by aggressively going after any party that seeks to defraud or mislead the public when it comes to their mining activities, and anyone who contravenes the law, or seeks to assault or hinder officials in the execution of their duties. These actions will be penalised with both fines and imprisonment. We require fair, honest, and transparent communication with the government and Bahamian people, so that we can make the decisions that align with our strategies for economic growth.
Madam Speaker,
In our Blueprint for Change, we proposed a modern framework for mining operations in The Bahamas.
For the first time, our country will have a comprehensive regulatory framework and oversight of mining which reflects Bahamian values and interests.
We must always be open to and seek new opportunities, but we must consider any proposals in a measured way.
Mining is a national issue of great interest, one that has given rise to many ideas.
Some of the ideas put forward have been insightful – while others are workable only in the minds of those who invent them.
But you know something, Madam Speaker. In life, there are those who talk about problems and there are those who solve them.
Because of the work we have done, in partnership with the people, we will have – for the first time — a comprehensive, modern, economically-empowering, sustainable, ecologically-conscious framework for the regulation of mining and related activities in The Bahamas.
The Mining Bill has my enthusiastic support as an important step forward The Bahamas.
Thank you, Madam Speaker.