Mining Opportunities in Québec

Transcription

1 Mining Opportunities in Québec Pierre Verpaelst Ministère des Ressources naturelles et de la Faune du Québec Mohan Patel Investissement Québec

2 Québec Overview Mining Industry in Québec Mineral Exploration in Québec Mining Rights, Geosciences Data and Infrastructure Table of Contents Fiscal Measures for the Mining Sector QUÉBEC Surface Area: 1.7 million km 2 Population: 7.7 million Conclusion

3 Quebec Mineral Strategy Creating wealth and preparing the future of the mineral sector Investing for the future Enhancing competitiveness Meeting the need for workers Mining Heritage Fund (10 M$/year x 10 years) Ensuring environment-friendly mineral development Rehabilitate abandoned mining sites Improve environmental protection Protect the land for the future Fostering integrated communityrelated mineral development Participation of local and aboriginal communities in mineral development Document available online

4 Reasons for Exploring in Québec Québec is widely recognized as one of the best places in the world for mineral exploration (Fraser Institute Surveys, ) High potential for discovery -1 st in Canada since 2000 for discoveries of new mineral deposits Very favourable mining tax regime Free Mining regime - open access Great geosciences database and data-retrieval system (SIGEOM) Fraser Institute Index ( ) Policy Potential Index 1 QUÉBEC (Canada) New Brunswick (Canada) Finland Alberta (Canada) Nevada (U.S.) Saskatchewan (Canada) Chile Ntld./Labrador (Canada) Manitoba (Canada) South Australia (Australia) 75.9

5 2010 Operating Mines in Québec 1 base metal mines (Ni-Cu- PGE,) 12 gold mines (2 Au+Zn, Cu, Ag) 1 iron mine 1 iron-titanium mine 1 ferro-niobium mine 11 industrial minerals mines Total: 27 mines +100 rock quarries +250 sand and gravel pits Source: MRNF

6 Mineral Production in Québec Au : 36% Ni : 17% 2009 Metal production in Quebec Argent Bismuth Co : 1% Ag : 3% Cadmium Cu : 6% Cobalt Cuivre Fer (Minerai) Nickel Niobium Or Sélénium Fe : 37 % Tellure Zinc Québec is the world s second largest producer of niobium (Nb) and titanium dioxide (TiO2) In 2009, Québec is the second largest mineral producer in Canada (excluded petroleum and coal) - Mineral production value is $6.217 billion CND (19 % of total Canadian production value) Sand & gravel : 11% Stone : 47% 2009 Non-Metal Production Silica : 2% Sulfur : 3% Peat : 7% Cement : 41% Silice Soufre Tourbe Ciment Pierre Sable et gravier - Second largest Iron, Gold, Zinc, Stone, and Cement producers of Canada - 70% from 16 metallic minerals and 30% from 13 non-metallic minerals Mineral production continually increase during last 30 years ($1.80 billion in 1978, $2.71 billion in 1988, $3.56 billion in 1997, $6.22 billion in 2009) Source: Natural Resources Canada

7 Major Deposits and Mining Camps in Québec 1. Val-d Or (25 deposits): 800 t Au, 790 Kt Zn, 740 Kt Cu, 1,180 t Ag 2. Malartic (6 deposits): 500 t Au 3. Bousquet (7 deposits): 770 t Au, 1.3 Mt Zn, 265 Kt Cu, 2,700 t Ag 4. Casa-Berardi: 125 t Au 5. Matagami (14 deposits): 6.63 Mt Zn, 1.23 Mt Cu, 44 t Au, 2,480 t Ag 6. Langlois: 1.57 Mt Zn, 92 Kt Cu, 327 t Ag 7. Troilus: 122 t Au, 145 Kt Cu 8. Raglan (+10 deposits): 1.66 Mt Ni, 640 Kt Cu, 45 Kt Co, +PGE 9. Noranda (35 deposits): 750 t Au, 3.0 Mt Cu, 2.5 Mt Zn, 2,700 t Ag 10. Selbaie: 1.25 Mt Zn, 920 Kt Cu, 46 t Au, 2,630 t Ag 11. Chibougamau (12 deposits): 142 t Au, 380 Kt Cu, 180 Kt Zn, 1,600 t Mo 12. Gaspe (3 deposits): 2.74 Mt Cu, 160 Kt Mo, 55 t Ag Source: Geological Survey of Canada

8 Exploration & Deposit Appraisal Expenditures 2009 total: $319.2 million (20% of Canadian spending) Juniors: $221.4 million (69% of total spending) Majors: $97.7 million (31% of total spending) Source: Natural Resources Canada

9 Active Exploration Projects in Québec >302 active projects in Quebec: 40% in the Abitibi region and 46% in Northern Quebec region - 39 % for gold - < 1 % for diamond - 13 % for copper and zinc - 6 % for nickel and PGE -9% for uranium - 2 % for rare metals - 4 % for iron and titanium -2% for lithium - 13 projects at valuation stage - 3 mine projects in development stage Source: Metals Economics Group

10 Mining Rights Free Mining Regime: open access to mineral resources Map designation of claim via Internet by GESTIM Pre-defined land parcels First come, first served Undisputable by third party Exclusive Right for all substances Guaranteed to obtain mining title conditional to social license to operate Source: MRNF

11 Mining Rights GESTIM You need : Computer + Internet + Credit Card to stake new claims!

12 Great Geosciences Data and Infrastructure Acquisition value of $5 billion in SIGÉOM, the mining information system (100 years of geosciences data) 5,500 geological maps and reports 61,000 company exploration reports 130,000 diamond drill holes 6,500 showings, ore bodies and mines 600,000 samples + 12 million results Complete documentary coverage (geochemical, geophysical, geology ) Easy and free access via Internet Source: MRNF

13 A Unique Mining Tax Regime Major Companies (Near and Far North) Exploration expenses: $1,000 Québec credits and deductions: $ 266 Federal credit and deduction: $ 233 Net cost: $ 501 Junior Companies (Near and Far North) Exploration expenses: $1,000 Québec credits and deductions: $ 467 Federal credit and deduction: $ 115 Net cost: $ north latitude

14 A Unique Mining Tax Regime Flow-Through Share System (Net cost of $1,000 invested by an individual in a company undergoing exploration in Québec) Exploration expenses: $1,000 Québec deductions: $ 360 Federal deduction & credit: $ 356 Net cost: $ 284 After-tax profit threshold $ 323

15 Conclusions Québec is still a great place to invest in mineral exploration recognized track record Québec is still producing exploration successes and surprises iron deposits: Schefferville, Fermont mining camps nickel deposits: Cape Smith Belt and Abitibi gold and base metal deposits: Abitibi and James Bay regions diamond and uranium deposits: James Bay and Ungava Bay region Rare metals in Abitibi, James Bay, Northern Quebec Québec invites you to take part in this exciting venture

16 Thank You! Mohan Patel Investissement Québec Japan Representative Tel.: Pierre Verpaelst Director General Tel.: (ext. 5059)