The government of the Northwest Territories is extending property tax relief for diamond mines into the 2026–27 fiscal year, citing ongoing global market uncertainty and trade disruptions.

The measure, first introduced in 2025, is expected to reduce diamond mine property tax revenues by about $8.8 million, or 45 per cent compared with projected revenues without relief, the government said in a news release.

The extension aims to sustain short-term economic stability for workers, businesses, and northern communities while ongoing efforts for long-term diversification proceed.

Diamond mining remains the territory’s largest private-sector industry and a key part of its economy, with all three of Canada’s diamond mines operating within the territory.

The government said mine operators are expected to direct the benefits of the relief toward sustaining N.W.T.-based employment, meeting obligations to local contractors and Indigenous business partners, and maintaining safe operations.

The federal government recently announced a $115-million loan to the Ekati diamond mine through its Large Enterprise Tariff Loan facility to help maintain operations and protect northern jobs. The N.W.T. government said its extension complements that federal action and reflects a coordinated effort to support workers and communities.

“As with our previous measures, this relief is temporary and comes with clear expectations that benefits support N.W.T. workers, businesses, and Indigenous partners,” Finance Minister Caroline Wawzonek said in the release.