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Quebec mining body optimistic

The Québec Mining Association has outlined improved momentum and an optimistic outlook for the mining sector but warned of looming issues including environmental amendments.
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North American Lithium part of momentum: QMA

Staff reporter

The QMA said 2017 had seen a 2.9% increase in mining investment in the province, from C$2.49 billion to $2.57 billion (US$1.99 billion to $2.05 billion), helped by strong gold and zinc prices.

The province, which moved from 8th to 6th place last year in the Fraser Institute's annual ranking of best mining investment jurisdictions, also saw a number of operations restart or achieve key milestones.

The association pointed to the reopening of North American Lithium's mine in the Abitibi-Témiscamingue region and the Bloom Lake iron ore mine in the Côte-Nord region by Québec Iron Ore, and Stornoway Diamond's (CN:SWY) first diamonds sale

"Several promising mines are now operating, and other projects are under development, leading in particular to more diversity in the minerals produced," QMA president and CEO Josée Méthot said.

"Although it is not all good, the gloomy attitude of recent years seems to have given way to optimism, raising motivation as we face the challenges ahead."

These included government requirements concerning reduction in greenhouse gas emissions, recruitment and new conditions for the environmental authorisation process.

Méthot said more must be done to attract investors to ensure Québec's mining industry had a future over the long term.

In a separate statement issued the same day, she welcomed the sustainable development minister Isabelle Melançon's decision to allow a sufficient consultation period for proposed environmental amendments.

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