QUEBEC – The Quebec Mining Association is pleased to note the upward trend in mining investment in that province during 2017-18.
The provincial ministry of statistics originally estimated that the sector would spend $2.77 billion, but investment topped $3.00 billion in 2017 and the number could reach $3.57 billion in 2018. This is $500 million more than mining spent in 2016, said the QMA.
Investment in the area covered by Plan Nord were the highest at $1.25 billion. Abitibi- Témiskamingue was next with just over $1.00 billion, and in third place with nearly $600 million is Côte-Nord.
Exploration spending almost doubled from 2016 to 2017, reaching $574 million. This number is reason for optimism going forward, according to the QMA.
Exploration spending was largest in Northern Quebec with $308 million, followed by Abitibi-Témiskamingue with $216 million.
“These figures are impressive and confirm that the mining industry continues to believe in Quebec,” QMA president and CEO Josee Methot said. “Although there is still work to be done to make Quebec the world’s best jurisdiction to invest, this data shows that it attracts investors and that there is a future here for mining development.”
Learn more about mining advocacy in Quebec at www.AMQ-inc.com.