In which areas has AEMQ been the busiest over the past year, and what is on the agenda for the association in 2023?

AEMQ’s mission is to continue to promote sustainable and responsible exploration of mineral resources in Québec. We currently have a fantastic opportunity in the mineral industry with the energy transition as electrification will need more minerals such as copper, nickel, cobalt, graphite, and lithium, and Québec is one of the best places in the world to find these minerals.

We are used to mineral exploration and mining in the Abitibi and northern Québec, but some minerals required for electrification are located more in the southern part of the province. The population in southern Québec is not used to the mineral exploration industry and thus education is necessary to convey information about how exploration works and operates, and this is one of the main challenges at the moment.

AEMQ’s role is especially important to explain facts about exploration and mining and how the mineral industry works to mitigate or eliminate their concerns. We need to get the message over that a claim is not a mine. Due to the lack of knowledge of how the industry works, people are scared of these claims popping up on the maps, but an extremely small proportion of these claims are being worked on and it is less than 1% that will see impactful exploration, such as diamond drilling or trenching.

What is at the top of AEMQ’s agenda in the exploration space in Québec?

Again, it is ensuring that access to territory is available to the industry since large areas need to be explored to find the tiny anomaly that can become a mineral deposit. To do that, we need to make sure exploration is done the right way. AEMQ’s mission is to promote responsible exploration and one of the tools the association put forward to achieve this is the ECOLOGO certification. This ensures that explorers, in whichever commodity, use the best practices while doing their field activities and it is all documented and independently auditable by UL Canada. The ECOLOGO certification can be reassuring to communities when companies move into areas that are less used to mineral exploration and this tool can be well leveraged in southern Québec.

What are the benefits of exploring in Québec compared to other mature mining jurisdictions?

Québec is still a top 10 jurisdiction in the Fraser Institute ranking and is a prime destination for mineral exploration. Geologically, the province has potential for many commodities, including gold, base metals, and the critical minerals that North America and the Western world want to mine more locally. Québec also has access to hydropower, which contributes to more sustainable mining and producing green products, and there are significant tax benefits and incentives in place for the mining of critical minerals required for electrification.

We are seeing a significant number of foreign explorers being attracted to Québec as a mining destination. We believe that outside funding spent in Québec is great for the industry as our locally-owned small businesses can provide services to these companies coming from abroad. AEMQ can accompany foreign companies to ensure they understand how our regulations work and that the job is done well. Money flow from abroad is welcomed and is the testimony of the good environmental and geological potential we have.

How do you view deal-making and M&A in Québec in 2023?

A few years ago, companies were lacking funds due to cryptocurrencies and cannabis, but today, the money to fund juniors is lacking despite all the incentives being there. Juniors are currently hurting as there is limited funding available. This will force people to adapt to their reality and may allow for consolidation and the best projects to emerge.

What are AEMQ’s main objectives for the remainder of 2023 and looking into 2024?

AEMQ remains focused on looking after our members’ interests. Communication is key in this environment where it is tough to control the narrative and we need to get our message through to the people, our regulators, and even the media. Everybody wants electrification, and we need to convey that sustainable mining for critical minerals is the biggest part of this transition, and one of the best places in the world to do it is in Québec.