$10 million in support for the BlackRock Metals project : THE QUÉBEC MINING ASSOCIATION WELCOMES THE SUPPORT FOR THE BLACKROCK METALS PROJECT PROVIDED BY THE QUÉBEC GOVERNMENT
Québec City, June 21, 2017 – The financial participation of the Québec government will allow BlackRock Metals to complete detailed engineering plans and the preliminary phases of its open-pit mine to extract iron, vanadium and titanium near Chibougamau. The total project is assessed at $1.5 billion. The Québec Mining Association (QMA) welcomes the financial support provided, which will assist in the development of Québec's mining industry.
"By providing financing for the project, the Québec government is sending a positive signal for the development of the mining sector and for the ongoing presence of a strong mining industry in Québec," says Josée Méthot, the QMA's president and CEO.
BlackRock Metals' project will contribute to economic development in and around Chibougamau and in the area covered by the Plan Nord. "It is always good news to see the government providing assistance for a mining project. This investment will be beneficial for BlackRock Metals, and also for the Nord-du-Québec region, which will see the creation of hundreds of new jobs," Ms. Méthot continues.
Several other promising projects will be implemented to ensure the continuation of the Plan Nord. "We still have work to do, and Québec's mining industry is determined to continue its activities to support socio-economic prosperity in Québec and its regions and provide a source of pride for all Quebecers," concludes Josée Méthot.
About the Québec Mining Association
The Québec Mining Association (QMA) was founded in 1936 and speaks proactively for mining companies involved in exploration, extraction and processing, mining contractors and junior mining companies, along with suppliers, institutions, non-profit organizations and other mining sector partners. It is proud of the 45,550 jobs and total expenditure of almost $6 billion generated by Québec's mining industry. The QMA’s mission is to promote, support and proactively develop a responsible, committed and innovative mining industry in Québec.