L'AEMQ Welcomes Government of Quebec's Efforts to Develop Natural Resources

But continues push for modifications to bill 14

ROUYN-NORANDA, QC, March 26, 2012 /CNW Telbec/ - The Quebec Mining Exploration Association (AEMQ) welcomes the Government of Quebec's 2012-2013 budget unveiled by the Minister of Finance, which favours mineral exploration and recognizes the value of measures to promote the development of Quebec's rich soil. The role of mineral resources as a driving force for economic and social development is fully acknowledged.

"Instauration of Resources Quebec, a $100 million fund for SOQUEM, implementation of Plan Nord elements, and the creation of a mining cluster are among initiatives that will contribute to greater stimulation of exploration across the entire territory of Quebec," declared Jean-Marc Lulin, President of the Quebec Mining Exploration Association.

However, AEMQ remains disappointed by the 10% reduction of expenses eligible for tax credits. "This move could result in a decrease of private investments in exploration, which in turn will minimize incentives for exploration, and chip away Quebec's competitive edge," Mr Lulin added.

AEMQ is also questioning how revenue generated from the 25% increase in registration fees and renewal of claims will be used.

Finally, AEMQ reiterates its opposition to provisions in Bill14, which will effectively give 1200 municipalities management power for exploration activities on their respective territories.

"The bill has yet to be passed, and already municipalities are demanding royalties not only on resources belonging to all Quebecers, but also on companies' exploration and production activities. The Government of Quebec will seriously fail as a trustee of collective resources should this bill lead to such chaos in the management of mineral resources," asserted Valérie Fillion, Executive Director of AEMQ.

The Quebec Mining Exploration Association also fears the issue might end in court as some of the provisions in the bill counter those of the North American Free Trade Agreement (NAFTA).

About the Quebec Mining Exploration Association (AEMQ)

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The Quebec Mining Exploration Association (AEMQ) is a non-profit economic and industry association founded in 1975. It represents prospectors, geologists, geophysicists, entrepreneurs, developers, and other players in Quebec's mining exploration field. AEMQ's mission is to contribute increased geo-scientific knowledge of Quebec's mineral potential, to develop sustainable and responsible mineral exploration and support the expansion of Quebec's mining entrepreneurship. AEMQ has over 2172 individual members (prospectors, geologists, geophysicists, brokers, tax experts, lawyers, etc.) and over 234 corporate members (major and minor mining exploration companies, geological and geophysical engineering consultancy firms, drilling companies, service providers, equipment manufacturers, etc.).

AEMQ is managed by a board of directors and 20 members representing different aspects of mining exploration in Quebec. AEMQ's headquarters are located at 132, avenue du Lac, Suite 203, Rouyn-Noranda (Quebec) J9X 4N5. For further information, please consult the AEMQ website at www.aemq.org

Media relations

Valérie Fillion
Executive Director
Tel : [phone] 
Email: [email protected]

Jean-Marc Lulin
President
Tel : [phone]
Email : [email protected]