Positive evolution would be the best way to describe the development of Québec’s mining industry over the past several years. The prestigious annual survey of mining companies, conducted by the Fraser Institute, perfectly reflects this trend, with Québec gradually i mproving its appeal as an investment destination for the industry: from 24th in the world in 2013, to 10th in 2014, to 8th in 2015.
Several developments have contributed to that. On top of the favorable tax regime with incentives for exploration, the accomplishment with the biggest impact was the adoption of Bill 70, “an Act to amend the Mining Act,” which cleared the waters for many potential investors.
Keeping these facts in mind, we arrive in present-day Québec, a mining jurisdiction traditionally known for its exceptional gold and iron ore reserves situated in the north of the province in regions such as Abitibi-Témiscamingue (gold), and the Labrador Trough (iron ore). While iron ore is still not recovering from the crisis, healthy gold prices and a favorable USD/CAD exchange rate have provided for a good 2016 for many Québec miners