In February 2013, the Minister of Finance and
Economy and the Minister of Natural Resources announced the launch
of forum on mining royalties to be held on March 15 in
Montreal. This announcement was made with respect to the
undertakings taken by the Parti Québécois during the
Québec provincial elections last fall, whereby the Parti
Québécois promised to revise the province's
mining tax regime. This initiative was thereafter expanded in the
2013-2014 budget, with the Parti Québécois promising
to consult the mining industry and any concerned groups on the
matter. The forum will be a key milestone of this process.
The forum will be co-chaired by Mr. Jacques Fortin (HEC
Montréal) and Mr. Pierre Lasserre (UQAM-CIRANO). All
interested parties, including the Québec Mining Association
and the Québec Mineral Exploration Association, together
with mining companies, are invited to submit comments on the
implementation of a new mining tax regime.
Consultation documents are to be posted on the websites of the
Ministry of Finances and Economy and the Ministry of Natural
Resources by March 1st. These documents will outline, among other
matters, information on the mining industry and on the application
of the current mining tax regime together with quantitative
information on the amounts drawn from the mining companies
operating in the province of Québec.
Less than one month prior to the forum, any parties interested
in participating in the process will be urged to organize their
arguments and positions in accordance with the forum's agenda.
At the time of this writing, no consultation documents have been
posted. Indeed, the only certainty is that the government intends
to publicly announce the new terms of the mining tax regime as soon
as practically possible following the forum, likely sometime in the
Spring of 2013.
The government's release and publication of the consultation
documents shall be the subject of a future post on the Plan Nord
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