Building the infrastructure

Building a successful mine takes teamwork, and Stornoway Diamond Corp. and the Quebec Government are working together to help ensure that the Renard Diamond Project has every chance of reaching its goals by providing funding for infrastructure improvements in the area.

Quebec’s “Plan Nord” project is a visionary initiative to sustainably develop Quebec north of the 47th parallel (where The Renard Project is located) through infrastructure investment, community development and biodiversity conservation.

One of the key projects under the “Plan Nord” program is the $331.6 million construction of the Route 167 extension, a 243 km-long, 70 km/hour two-lane gravel-top road development project that will provide year-round highway access to the Renard site by way of the communities of Mistissini and Chibougamau.

Stornoway has also agreed to contribute $44 million to the development of the new road, plus $5,000 per km, or $1.215 million per year, towards its maintenance during the operation of the Renard Diamond Mine.

In addition to the roadway, a separate study has also been taken on a 165-km, 120kV powerline to connect Renard to the line of generating station along the Trans-Taiga Highway to the north.

Other investments include $434 million for social measures and $500 million for direct investments through Investissement Quebec.