Quebec looking for investors for huge energy, mining plans

Quebec's ambitious Plan Nord, announced yesterday, to develop natural resources in vast areas of its northern territory, will include mining, forestry, and power generation. At least 11 mining projects could be launched in the region, rich in nickel, cobalt, platinum, zinc, iron ore, diamonds and rare-earth metals. An additional 3500 megawatts of renewable energy is to be generated from new regional wind and hydroelectric power projects. The government hopes to attract $80 billion in new investment to fund the energy, mining and other projects over the next twenty-five years. The development will create tens of thousands of new jobs and generate billions in revenue for the province, the government says.

The area is so remote and so vast, covering about 1.2 million square kilometers of largely untouched wilderness, that the government will have to invest in new roads, airports, housing, and even a deep sea port to get raw materials out. The proposal will require integrating 10 northern ports, 46 airstrips, 1190 kilometres of railroads and 51,000 kilometres of roads to improve access.

The government is pledging to integrate development and conservation, including wildlife management, tourism and farming.

With global appetite for raw materials growing, mining companies are likely to keen to invest in the region. Arcelor Mittal, Xstrata, Tata Steel and Barrick Gold are just some of the companies who are already active there.