http://www.nunatsiaqonline.ca/
Major new mining projects for Nunavik have stalled
Dig below the surface and you may find that hope and fear are the underlying themes at this week’s Quebec mines conference, Nov. 17 to Nov. 20, in Quebec City.
The Quebec mining sector faces sharply decreasing commodity prices at a time when the Quebec government wants to promote resource development, the centre-piece of its long-touted Plan Nord, relaunched in 2014 by the new Liberal government.
But low gold prices and falling demand for nickel and iron in China means the 2,000 delegates expected at the conference, whose sponsors include Quebec’s department of resources and energy, its mining association and other industry players, may end up bemoaning a bust in resource development rather than applauding its boom.
Key major mining projects in Nunavik have already stalled. Oceanic Iron Ore Corp., whose company officials recently accompanied Quebec Premier Philippe Couillard on his junket to promote Plan Nord in China is still looking for a Chinese partner for its ambitious Hopes Advance iron ore project near Aupaluk on Nunavik’s Ungava Bay.
The iron mine project, which looked so promising in 2013, has enough resources to produce between 10 million and 20 million tonnes of high-grade iron ore concentrate product every year for up to 48 years.