WELCOME LETTER

Global Business Reports is delighted to be back in Québec, a dependably world-class mining jurisdiction with distinctive institutional support. The following pages investigate the latest developments across the value chain, from the organizations and institutions that provide the sector with financial, regulatory stability and transparency, to the junior explorers, large producers and service-sector companies operating on the ground.

GBR’s research covers the continued momentum for exploration in the illustrious Abitibi Greenstone Belt, along with the emergence of the James Bay region and a strong governmental commitment to develop Nunavik’s mining prowess.

Along with an expansion of development geographically, there is also now a much richer diversity of commodity exploration and development occurring in Québec. Metals and materials powering the green economy, such as vanadium, graphite, lithium, scandium and niobium have caught the attention of a market demanding a more sustainable energy future. Capital has followed in a meaningful way, as evinced by The Pallinghurst Group’s billion dollars of investment in Nemaska Lithium and Nouveau Monde Graphite.

Nevertheless, the backbone of Québec’s mining industry remains gold production, and while prices have remained stubbornly flat through summer and into fall of 2021, funding continues to roll in as capital favors the province’s potent mix of prospectivity, professionalism and community support. Producers such as Eldorado Gold led the way, exceeding production goals despite Covid restrictions. Québec’s storied iron ore industry also saw a swift recovery, with Champion Iron achieving record profitability for fiscal year 2021.

The following pages are the culmination of over 80 interviews conducted with key decision makers to provide a holistic view of the companies and themes shaping the industry today.

We thank all our interviewees who have taken the time to provide their insights into the market.

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