RARE EARTHS: Matamec says Kipawa will create 2,400 construction jobs

QUEBEC – Montreal-based Matamec Explorations is making a case for development of its Kipawa rare earths deposit in the Abitibi-Temiscamingue region. A report prepared by KPMG-Secor says that to begin with there would be 2,400 direct and indirect jobs created, nearly half in the region, during two years of construction. That would pump $212 million into Quebec.

During the 15 years that the mine would operate, there would be 408 new direct and indicated jobs created. The economic impact of the project is estimated at $61.9 million annually. The average salary of a Kipawa worker would be $70,500/year, 50% higher than the average salary in the province. The GDP of the Temiscamingue region will increase by $20 million, and the project will pay $15.5 million in salaries and benefits there.

An executive summary of the study is available on Matamec's website, Matamec.com.