QUEBEC CITY – The Association minière du Québec is calling on the provincial government to support the mining industry so that investments in new producers will rise in the province.
“There has been a sustained reduction of investments since 2013 in Quebec. While it is true that the global mining sector is idling, the decisions that governments have taken in recent years have hurt the attractiveness to investors of Quebec and we are feeling the effects today,” said Josée Méthot, AMQ president and CEO.
“We must now make sure to reverse the trend that seems to be emerging by doing more to support the mining industry in its development and ensuring that government reduce irritants that hinder the smooth running of mining activity. The future of the industry in Quebec in question,” she added.
Numbers published by the Institute de la statistique du Québec show that mining investment in the province was down 22.7% in 2015 compared to 2014 and down 55.2% compared to 2012 when a record was set.
The AMQ expressed concern about the drop in exploration expenditures as well. In 2015 the total was $220 million, a decrease of 30.6% over 2014 and a drop of 73.6% from the record $834 million set in 2011.
“We have to explore now to find the mines of tomorrow. If exploration expenditures continue to fall, it’s a whole section of the Quebec economy that will continue to weaken,” Méthot added.
Learn more about the work of the Association minière du Québec at www.AMQ-inc.com.