Québec Minister of Finance and Economy Nicolas Marceau
and Québec Minister of Natural Resources Martine Ouellet
announce that a forum on mining royalties will be held on March
15th, 2013 in Montréal, during which the mining industry and
groups affected by this issue will be consulted.
This announcement made at the Strategic Forum on natural
resources which was held in Montréal on February 8th, 2013,
follows the commitments undertaken by the Parti
Québécois during the last election campaign to raise
mining royalties. The forum will enable the parties to agree on the
"best way to get there", said Minister Marceau.
In his speech announcing the forum on mining royalties, Minister
Marceau indicated that the following principles are guiding the
Québec Government: royalties must be increased, the
extracted mineral must generate royalties in all cases, the most
profitable projects must generate more royalties and transformation
in Québec must be encouraged. He also indicated that the
challenge is to find the balance between maximizing royalties,
maximizing investments and maximizing employment in the mining
A consultation document will be made available by March 1st and
will be available on the Ministry websites. The document will
include information on the mining sector, on the operation of the
current Québec mining tax regime and on the total amount of
royalties collected from mining companies in Québec.
The Québec Mining Association and the Québec
Mineral Exploration Association as well as several mining
companies, groups and experts will be invited to provide their
opinion and suggestions on this question. These consultations will
culminate in the forum on mining royalties which will be
co-presided by Mr. Jacques Fortin (HEC Montréal) and Mr.
Pierre Lasserre (UQAM-CIRANO).
Minister Marceau also indicated that the Québec
Government will be able to announce the details of the new royalty
regime in early spring.
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