Québec is known for its tremendous mineral potential and a business climate that is very favourable to mining investment. Québec is especially attractive for resource exploration and development.
With 23 mines now in production and over 350 surface mineral mining operations in progress, the value of Québec's mineral shipments reached $7.7 billion in 2015. The main minerals mined are gold and silver, iron, nickel, ilmenite (titanium), zinc and rock of all kinds.
In 2015, some 200 mining companies conducted more than 600 exploration and development projects.
Acquired in 2016 by Australian company Champion Iron, with the financial support of the Québec government, the Bloom Lake Iron Ore Mine will resume operations in winter 2018. With mineral reserves estimated at 411.7 million tonnes, this mine has the potential to become one of Nord-du-Québec’s leading long-life iron mines.
ArcelorMittal, the world’s leading steelmaker, is set to invest close to $500 million over the next four years to upgrade its facilities in Québec’s Côte-Nord region. The investment will enable the company to increase production at its Fire Lake mine, maintain current operations at the Mont Wright mining complex in Port Cartier and consolidate its iron ore supply for related industries, including steelmaking.
Tata Steel Minerals Canada is carrying on a $1.5 billion direct shipping iron ore mining project in Schefferville, in northern Québec. Investissement Québec has granted a $50-million loan to the company and took a $125 million equity stake to support this major project.
Royal Nickel Corporation’s Dumont Nickel Project is one of the world’s largest undeveloped, permitted and shovel ready nickel sulphide deposits. Dumont is a mammoth deposit located near the town of Amos, Québec. When in production, it is expected to rank as the fifth-largest nickel sulphide operation in the world by annual production.
Launched in 2011, the Plan Nord is a vast project that opens up an incredibly resource-rich territory extending over 1.2 million km². The goal is to ensure sustainable, integrated development of the region’s economic potential — particularly its mineral resources — all with the greatest respect for First Nations and local communities.