THE QUÉBEC MINING ASSOCIATION RESPONDS FAVOURABLY TO THE BILL ON TRANSPARENCY MEASURES
Québec City, June 11, 2015 – The Québec Mining Association (QMA) responds positively to the introduction, by Luc Blanchette, Minister for Mines, of the Bill on transparency measures in the mining, oil and gas industries. Once all the contributions made to governments and communities by the mining industry are disclosed, the Québec population will have a better idea of the importance of the mining sector in Québec's socio-economic development.
"Our industry plays a major role in Québec's prosperity but in many cases, because only the amount paid in royalties is considered, the whole picture is not seen. It is important to give a more comprehensive view of the payments made, covering all of the industry's contributions. This is exactly what will happen with the new law," says Josée Méthot, the QMA's president and CEO.
It is important to note that, on average, the mining sector pays over one billion dollars per year to all levels of government, including $710 million to the Québec government alone in the form of royalties, corporate income tax, payroll taxes, CSST contributions, etc.
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 $3.2 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.