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Mining

An industry worth exploring throughout the vast Québec territory

With its responsible mining development based upon a renowned know-how, Québec has carved itself an enviable place within the industry.

Profile

  • The Québec sector of mining exploration and extraction as well as the sectors of metals and minerals processing represent 45,000 direct jobs and tens of thousands of indirect jobs, spread throughout the entirety of Québec.
  • More than 1, 000, 000 metres of diamond drilling have been carried out for mineral exploration.
  • In 2014, gold deliveries reached 1.3 million troy ounces.
  • The exploration and development efforts generated expenditures of 272 million dollars in 2014, according to preliminary data from the Institut de la statistique du Québec.
  • Total mining investments reached 3.2 billion dollars in 2014.
  • From 2001-2014, the value of Québec mineral shipments increased by over 140 % in current dollars and by nearly 90 % in constant dollars. It reached 8.5 billion dollars in 2014, well above the levels of the beginning of the 2000s (3-4 billion dollars).
  • Several mining companies have important investment projects concerning the expansion of their existing mining operations or upcoming new mines. Several major projects have already been announced, with others expected to be in the coming years. These projects concern substances already produced in Québec, such as iron ore, gold or nickel, as well as new substances not currently produced in Québec, such as lithium, rare earths, diamonds or graphite.

Prosper in an energetic environment

A strategic vision for mining development in Québec

In 2009, the Government of Québec adopted its first mineral strategy. This strategy aims to increase mining operations and to augment the economic spinoffs in accordance with the principles of sustainable development, to the benefit of all the Quebecers. Six years later, most of its measures have been implemented. In the meantime, economic conditions have evolved. A new mining tax regime and a new Mining Act have been adopted in Québec. The notions of social acceptability, environmental protection, harmonization of land use, transparency and sharing of the economic spinoffs have become the benchmark in the mining world. The Government will unveil its strategic vision for mining development in Québec this Autumn. The strategic vision’s scope will be larger than that of the mineral strategy. It will extend to all mining channels, from exploration through extraction and processing, compelling all suppliers and equipment manufacturers. It will arise from consultations held in Autumn 2014 and Spring 2015 in several regions of Québec.

Northern development

Québec's Northern regions contain a mineral potential of incomparable wealth. The Northern development aims for the sustainable development of energy, mining, forestry, wildlife, touristry and biofood resources, advocating the adoption of concrete measures to enhance the economic potential of these resources. The mining sector will constitute a veritable engine of wealth creation.

A competitive industry

In addition to possessing a skilled labour force, training facilities, specialized research centres, as well as groupings and consortiums dedicated to geological research, Québec is a global leader in the area of geoscience data acquisition. These strengths lead to the development of numerous innovations which help Québec’s mining industry to remain competitive on a global scale.

Trailblazing niches

Québec stands out with the dynamism of its exploration and extraction projects geared towards minerals essential to green technologies, such as lithium, rare earths or graphite. These projects fit well in the purview of governmental action plans on electric vehicles and green energies.

Tax regime and fiscal incentives

The Government of Québec helps ensure the viability and competitiveness of the mining industry by promoting exploration, extraction and processing operations.

For instance, the Government of Québec offers a tax holiday of fifteen years for investment projects of at least 75 million dollars. This measure applies to companies investing in projects within the manufacturing sector, wholesale trade, storage, value-added distribution centres, as well as data processing and hosting. Investments in the processing of natural resources also benefit from this measure.

Government financial commitment

The Government of Québec has announced, as part of its 2012-2013 budget plan, the creation of Ressources Québec, a subsidiary of Investissement Québec, to be in charge of equity investments in natural resource companies operating in Québec's Northern regions.

The Government of Québec also announced, during its 2014-2015 Budget address, the creation of the Capital Mines Hydrocarbures (CMH) fund, to allow for equity investments in companies from the mining and hydrocarbons sector. This fund carries a capitalization of $1 Billion.

This fund reaffirms the Government’s intent to promote the responsible extraction and processing of mineral substances in order to allow the Québec citizenry to participate directly, as shareholders, in the earnings of the involved companies.

Last update: October 9 2015

Gouvernement du Québec

© Gouvernement du Québec, 2016