Review of 2018 by the Québec Mining Association : THE MINING SECTOR IS FARING WELL, BUT SOME OBSTACLES REMAIN
20/12/2018
Québec City, December 20, 2018 – As 2018 draws to a close, the Québec Mining Association (QMA) views the past year in a positive light, while pointing out that Québec must do more to attract new mining projects.
The QMA is delighted to note the resumption of activities in 2018 at Québec Iron Ore's Lac Bloom mine, along with the first shipments from North American Lithium, the only operating lithium mine on the American continent. Continued development of projets by Agnico Eagle Mines (Akasaba West), New World Graphite (Matawinie), Nemaska Lithium (Whabouchi), Sayona Québec (Authier) and Falco Resources (Horne 5) projects and the expansion of the Canadian Malartic mine, as well as the conclusion of commercial partnerships between Arianne Phosphate and various customers, point to great prospects for the coming year. However, too few new projects are on the drawing board, which worries the Association.
Mining companies have continued to invest in Québec, contributing to socio-economic prosperity in all regions. According to the forecasts of the Institut de la statistique du Québec (ISQ), $3.57 billion was invested by mining companies in 2018 at their operating sites and mine projects, compared to $3 billion in 2017. Among the companies that contributed to this result is Eldorado Gold, which plans to bring its Lamaque mine into commercial production in 2019.
New government, same issues
The QMA was pleased to see the formation of the Coalition avenir Québec government in October. It quickly reminded the new government of the importance of following through on its electoral promise to address the excessive delays affecting the development of mining projects in Québec, in order to improve the province's competitive edge internationally. For mining companies, this is an issue for the industry's ongoing viability in Québec.
It is important to improve Québec's attractiveness compared to other jurisdictions worldwide. Although Québec has retained its place in the top ten in the Fraser Institute's annual survey of mining jurisdictions in 2018, and although it is performing well on some of the points surveyed, the QMA is not completely satisfied with the results since they show that Québec is stagnating in the world ranking while other jurisdictions are improving their position.
Quotes
"Despite fluctuating metal prices, 2018 saw no major surprises. The issues of manpower and automation, among others, became more prominent than in the past, while the social acceptability of projects and access to the land continue to concern the QMA and its members, in order to ensure a form of mineral development that is harmonious and brings prosperity over the long term."
"Thanks to the quality of its workforce, which has gained worldwide recognition, the ability of its mining companies to conduct operations in a way that respects people and the environment, and a clear regulatory and legislative framework, Québec has all the advantages needed to become one of the world's leading mining jurisdictions. The government has sent a signal that it wants to see strong mineral development continue here, and we will continue to work with it in 2019 in order to achieve this objective."
- Josée Méthot, President and CEO of the QMA
About the Québec Mining Association
The Québec Mining Association (QMA) was founded in 1936 and speaks proactively for mining companies involved in exploration, extraction and processing, mining contractors and junior mining companies, along with suppliers, institutions, non-profit organizations and other mining sector partners. It is proud of the 40,540 jobs and total expenditure of $8.5 billion generated by Québec's mining industry over the last year. The QMA’s mission is to promote, support and proactively develop a responsible, committed and innovative mining industry in Québec.