Mineral Resources Management in Québec

12 11 2009

I will have a post tomorrow on Osisko, a company active in Abitibi Témiscamingue. Until then, I thought that, this RDI Enquête report would be interesting as it sums up pretty well the society and environment interface in which mining companies operate in Québec.

For the English essential, here are a few facts that caught my attention:

• According to Québec’s Auditor General, there are over 300 acidified tailings ponds for which no work has been undertaken.
• At the start of a project 70 per cent of mine rehabilitation costs should be set aside and paid to the Ministère des Ressources Naturelles et de la Faune to guarantee that the rehabilitation can take place. In 7 out of 15 per cent of cases, payments were not made.
• In sum the regulatory environment is fairly lax and the fiscal treatment of mining companies is generous. In fact, companies will be able to benefit from enough tax credits and allowances to cover for the full payment of the royalties.

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