Parliamentary Committee on Bill 79 - The mineral industry prepares to
contribute even more to the socio-economic development of Quebec and its
regions

QUEBEC CITY, May 11 /CNW Telbec/ - The Quebec mineral industry, focused on the challenges of the future, is looking forward to having an open discussion in hearings with the Parliamentary Committee investigating Bill 79 to amend the Mining Act (La Loi sur les mines) starting Wednesday in Quebec City. The Association minière du Québec (AMQ) and the Association de l'exploration minière du Québec (AEMQ) feel that the Committee will help raise awareness of the challenging economic and technical contexts facing the mining industry and help establish new constructive measures to better reflect the expectations of various industry stakeholders on economic, environmental and social matters.

The mining industry has evolved significantly in recent years with numerous positive changes that have improved health and safety and environmental performance issues, and the industry continues to further its progress in this direction.

Both the AMQ and the AEMQ believe that the mineral industry is a cornerstone of Quebec's economic development even while facing many challenges, including:

    
    -   serious competition increasingly forcing the Quebec industry to
        compete with the major global players in the sector;

    -   the adoption of new and more environmentally friendly approaches to
        exploration and production along with the establishment of new
        programs and measures to promote sustainability; and

    -   the importance of developing and maintaining harmonious long-term
        relationships with local communities in regions where the industry is
        active.
    

A PILLAR OF THE QUEBEC ECONOMY

The AMQ and AEMQ note that according to an economic impact study conducted recently by the independent firm E&B Data (available on the websites of both organizations), the mineral industry is a backbone of the economy of Quebec and its regions. Not only has this industry successfully weathered the global financial crisis of 2008 and 2009, but it is actively contributing towards the economic recovery of Quebec in a significant way.

An additional $4 billion of private investments is currently being prepared for the development of new mines in Quebec by 2013. Thanks to the 52,000 direct and indirect jobs generated, the mineral sector is one of the largest in the economy and compares favourably to industries such as aeronautics (40,000 jobs) and life sciences (32,000 jobs).

The E&B Data study also shows that revenue generated by the mineral sector as a whole for Quebec's treasury is considerably higher than the tax incentives it receives. Between 2000 and 2007, the average net fiscal contribution was $281 million per year.

For further information: Mr. Dan Tolgyesi, President, Association minière du Québec, [phone], [email protected]; Mr. André Lavoie, Director - Communication and Public Relations, Association minière du Québec, [phone], [email protected]; Mr. Jean-Pierre Thomassin, Director General, Association de l'exploration minière du Québec, [phone], [email protected]