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Quebec government’s infrastructure initiative pays-off with diamond mine production
26th Oct
...For the Quebec government, the symbolism of Stornoway’s launch goes beyond opening a new mine with a new resource. It represents the first project to be completed under the auspices of the Plan Nord, a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $ 22 billion in private- sector investment north of the 49th parallel.
In March 2014, Stornoway completed $944 million in financing transactions: $ 220 million in funding through the provincerun Investissement Québec, $105 million from the Caisse de dépôt et placement du Québec pension managers and US$ 360 million from the privately owned Orion Mine Finance...
...“Stornoway is an extraordinary example of the vision we had as a government,” said Pierre Arcand, Quebec’s Minister of Energy and Natural Resources, who is also responsible for overseeing Plan Nord.
“This is the best partnership there is. It’s a partnership with passionate developers, an involved community and a government that helps to confer the project.”...
...Although Stornoway says financial assistance was crucial in getting Renard operational, the road was one of the most simple but beneficial contributions from Plan Nord.
In 2012, t he government loaned Stornoway $ 77 million to complete a 240-kilometre extension of Route 167, giving allseason access by way of the Chibougamau and Mistissini communities. The road, championed publicly by Charest as a centrepiece of Plan Nord, became a political lightning rod after costs ballooned from the initial $260 million estimate to more than $470 million.
While every site visit used to mean flying in by float plane or helicopter, Route 167 has allowed Stornoway to drive in crews and equipment, as well as liquefied natural gas to power the mine operations.
Nochane Rousseau, the Mining Leader for Quebec at the PwC consulting firm, says the road will open the potential mining projects that previously could not be easily accessed. It also allows for exploration work that relies less on costly helicopter flights.
“When you have a new mine with new infrastructure you open the territory and decrease the exploration work,” Rousseau said.
At the opening ceremony, Arcand announced the government will continue Route 167 to connect with Route Transtaïga — a road that runs much of the way across the province 100 kilometres north of Renard.
“If they do that, they open northern Quebec,” Rousseau said. “(Arcand) did not say when they’re going to do it, but he said that they’re going to work on it.”
The Plan Nord covers 1.2 million square kilometres, representing 72 per cent of Quebec’s land mass but, with only 120,000 people — about a third of whom are First Nations — it’s less than two per cent of Quebec’s population...
[url]prosperitysaskatchewan.ca/2016/10/26/...ine-production/[/url]
26th Oct
...For the Quebec government, the symbolism of Stornoway’s launch goes beyond opening a new mine with a new resource. It represents the first project to be completed under the auspices of the Plan Nord, a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $ 22 billion in private- sector investment north of the 49th parallel.
In March 2014, Stornoway completed $944 million in financing transactions: $ 220 million in funding through the provincerun Investissement Québec, $105 million from the Caisse de dépôt et placement du Québec pension managers and US$ 360 million from the privately owned Orion Mine Finance...
...“Stornoway is an extraordinary example of the vision we had as a government,” said Pierre Arcand, Quebec’s Minister of Energy and Natural Resources, who is also responsible for overseeing Plan Nord.
“This is the best partnership there is. It’s a partnership with passionate developers, an involved community and a government that helps to confer the project.”...
...Although Stornoway says financial assistance was crucial in getting Renard operational, the road was one of the most simple but beneficial contributions from Plan Nord.
In 2012, t he government loaned Stornoway $ 77 million to complete a 240-kilometre extension of Route 167, giving allseason access by way of the Chibougamau and Mistissini communities. The road, championed publicly by Charest as a centrepiece of Plan Nord, became a political lightning rod after costs ballooned from the initial $260 million estimate to more than $470 million.
While every site visit used to mean flying in by float plane or helicopter, Route 167 has allowed Stornoway to drive in crews and equipment, as well as liquefied natural gas to power the mine operations.
Nochane Rousseau, the Mining Leader for Quebec at the PwC consulting firm, says the road will open the potential mining projects that previously could not be easily accessed. It also allows for exploration work that relies less on costly helicopter flights.
“When you have a new mine with new infrastructure you open the territory and decrease the exploration work,” Rousseau said.
At the opening ceremony, Arcand announced the government will continue Route 167 to connect with Route Transtaïga — a road that runs much of the way across the province 100 kilometres north of Renard.
“If they do that, they open northern Quebec,” Rousseau said. “(Arcand) did not say when they’re going to do it, but he said that they’re going to work on it.”
The Plan Nord covers 1.2 million square kilometres, representing 72 per cent of Quebec’s land mass but, with only 120,000 people — about a third of whom are First Nations — it’s less than two per cent of Quebec’s population...
[url]prosperitysaskatchewan.ca/2016/10/26/...ine-production/[/url]
