The development of innovative sectors heavily relies on Critical and Strategic Minerals (CSMs), resulting in an increase in demand while supply remains scarce. By implementing various practices and joining forces with local and Indigenous communities, Quebec aims to become a leader in the exploration, production, transformation, and recycling of CSMs. In this blog piece, we will further explore Quebec’s steps toward becoming a global power hub for the future.
Quebec: One of the world’s most attractive mining jurisdictions
Quebec is very advantageous when it comes to advancing and facilitating mining projects; it is the sixth most favourable mining jurisdiction in the world. The province has been awarded the ranking because of its highly diverse array of resources; in fact, Quebec is one of the few jurisdictions worldwide that harbors all the minerals required for batteries.
Quebec also provides a stable business environment that favours investments and offers various tax benefits as well as financial incentives to promote exploration, production, and manufacturing companies. Quebec has also established a program to offer support for exploration companies focused on critical minerals.
Furthermore, in Quebec, renewable, low-cost, hydro-powered electricity is supplied at a reduced rate for the industrial sector. These are just some of the few practices that Quebec implements to facilitate the progress of mining companies throughout all stages of their project development.
Quebec Plan for the Development of Critical and Strategic Minerals
In October 2020, Quebec launched Canada’s first-ever critical minerals action plan, titled the Quebec Plan for the Development of Critical and Strategic Minerals (2020-2025). This plan covers the entire life cycle of CSMs, from cradle to grave. Having a diverse range of resources, Quebec actually has the potential to develop 38 out of the 50 critical minerals included in the new 2022 American government’s list.
By bringing the plan into action, Quebec aims to expand the knowledge and expertise on CSMs, optimize integrated sectors with the help of CSM-producing regions, contribute to the push towards becoming a sustainable economy through energy and technological transition, and raise awareness, guide and promote the importance of CSMs.
Visionary and coherent government policies
By implementing various strategies and action plans, Quebec aims to facilitate the development of CSMs, from the mine to batteries. These include the Quebec strategy for the development of the battery industry, the 2030 Plan of a Green Economy, the Northern Action Plan, and the Quebec green hydrogen and bioenergy strategy, which is still in preparation.
Quebec wants to support companies throughout the various stages of mineral development and the critical minerals value chain through these government policies. Being a small jurisdiction, the province also has the advantage of being able to closely, rapidly, and directly working with promoters and other stakeholders.
Quebec has all the required tools to position itself as a future global leader in the development of CSMs. It has a developed and complete mining ecosystem, a wide variety of resources, a cutting-edge plan in the CSM field, and a positive balance sheet as well as multiple mobilized and concerted government actions.
Lomiko Metals is committed to exploring graphite and lithium to supply North America’s rapidly expanding electric battery and green energy industries. Lomiko is actively developing two main projects in the province of Quebec: La Loutre, which is held 100% by Lomiko and is being explored for high-grade large flake graphite, and Bourier, which has been optioned by Lomiko and is being explored for lithium.
To find out more on Lomiko Metals and their latest critical mineral projects, visit lomiko.com