THE MINING INDUSTRY PAYS OVER $120 MILLION IN ROYALTIES TO THE QUÉBEC GOVERNMENT IN 2014
Québec City, December 1, 2015 – The figures published by the Ministère de l’Énergie et des Ressources naturelles (MERN) prove that the mining industry makes a substantial contribution to Québec's public finances, and therefore to the quality of its public services. In particular, the industry paid almost $120 million to the Québec government in mining royalties during tax year 2014. According to the Québec Mining Association (QMA), this first disclosure by the government of the amounts paid by each mine shows clearly that Québec cannot ignore the benefits generated by mining in its territory.
"Previously, the MERN published a total figure for the mining industry as a whole. Now, the population has an opportunity to see that all mining companies pay mining tax, and the amount of their payment. This is new. In addition, even though mining has experienced a slowdown in recent years, the industry still paid $120 million to the Québec government during tax year 2014. The data unfortunately does not provide the whole picture, since it excludes contributions other than royalties such as corporate income tax, payroll taxes, CSST contributions, etc. In reality, the mining sector pays almost one billion dollars to the various level of government on average each year, including over $600 to the Québec government. The population has a right to know this," says Josée Méthot, the QMA's president and CEO.
Québec's mining industry represents:
45,000 direct and indirect jobs, many held by First Nations members;
$1.7 billion in wages in the extraction sector alone;
an extensive network of 3,800 suppliers located throughout Québec, mainly in the urban centres of Montréal and Québec City;
$3 billion in investment in 2014, mainly in the Abitibi-Témiscamingue, Nord-du-Québec and Côte-Nord regions;
1% of Québec's GDP.
About the Québec Mining Association
The Québec Mining Association (QMA) was founded in 1936 and speaks proactively for mining companies involved in 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 45,000 high-quality jobs and $3 billion in investment generated by Québec’s mining industry over the last year. The QMA’s mission is to promote, support and play a role in the development of a responsible, committed and innovative mining industry in Québec.