“Throughout the country, the mining industry is the largest employer of the Indigenous population. Over the years, we have collectively developed a sensitivity to the issue, recognizing the importance of dialogue and respect.”

Can you provide an overview of Fasken’s work in Québec’s mining sector?

Fasken is a large Canadian firm with offices strategically located around the world and a team of over 150 professionals devoted to mining. In Canada, we provide cradle to grave services, helping clients ranging from start-ups to large producers. Recently, we assisted Gold Fields in its acquisition of Yamana Gold. We are also working with several future lithium producers. Importantly, we recognize that an exploration company will not have the same preoccupations as a producer in operation or closing a mine, and we specialize in understanding the realities of our clients.

Why is Québec’s financing ecosystem so successful at attracting investment?

Through funds such as Sidex, Investissement Québec, FTQ Solidarity Fund and Caisse de dépôt, companies with significant potential have unparalleled access to long-term investors committed to supporting the next Québec mining success story. They are also sophisticated partners that can offer their mining expertise throughout the development of a project. Mining investment is venture capital given how risky it is. Investors are used to that – what they dislike is uncertainty because uncertainty cannot be measured. Québec provides a strong level of certainty that attracts capital because if you find a commercial ore body here, there is a reasonable chance it will be put into production.

In what ways does Fasken help clients with ESG-related matters?

Fasken has one of the larger ESG focused departments in Montreal and is very well versed in mining and environmental legislation. From this vantage point, I have watched the permitting landscape change considerably. We play a role in this new dynamic, especially with Indigenous communities, either during that first discussion or later on for Impact Benefits Agreements. Additionally, Fasken has the expertise to support its clients with federal and provincial reviews on environmental impact. Importantly, we can assist with government relations, helping provide the opportunity to sit down with decision-makers.

Canada in general has strong expertise in ESG given its experience with Indigenous communities. Throughout the country, the mining industry is the largest employer of the Indigenous population. Over the years, we have collectively developed a sensitivity to the issue, recognizing the importance of dialogue and respect.

How cumbersome is the permitting process in Québec?

There are now over 230 permits required to put a mine into production in Québec. The government is currently focusing on how to lighten the burden on companies, and they have assembled a task force that consults regularly with the mining industry on how to streamline the process. In the past, there was not enough consultation required to put a mine into production. We are now on the other end of the spectrum, though, and we have to find a middle ground. This is especially important given the strong push towards resource nationalism and how Québec is positioning itself as a supplier of strategic minerals. Western economies are saying they need to secure their own materials and production capabilities to become less reliant on countries like China and Russia, but if it takes 20 years to put a mine into production, it will be too late when that day comes. Governments will have some tough decisions to make in the next handful of years because certain projects will have to be fast-tracked for national interest.

Have multinational sanctions on Russia had an impact on the mining sector?

Doing business with a company that has a significant Russian shareholder can be enough to trigger sanctions. We are fielding many questions from clients regarding the scrutiny of who they are dealing with. Fasken has a group in Ottawa that is specialized in dealing with this.

What makes Fasken stand out from its competitors?

Fasken competes on an international level with top international law firms and is recognized worldwide for its mining expertise. We have lawyers who are also personally involved in the industry, such as my involvement in the Québec based mining investment fund Sidex, which gives us localized knowledge. We offer legal advice, but it is not uncommon for CEOs to call us for strategic advice on other matters given our boots-on-the-ground experience.