With investment projects of $4 billion, the cluster is an important driver for economic recovery
MONTREAL, April 26 /CNW Telbec/ - The Association minière du Québec (AMQ) and the Association de l'exploration minière du Québec (AEMQ) released today the results of a new study on the Quebec mineral industry cluster's socio-economic contribution to Quebec's development. This study, conducted by E&B DATA, analyses for the first time the mining sector from a value chain angle, from mineral exploration, through to mining and first transformation. It provides a new perspective on a sector that contributes significantly to Quebec's economic recovery with $4 billion of announced mining investment projects scheduled before 2013.
"People often wrongly limit the mining sector to extraction activities," said Mr. Jean Matuszewski, president of E&B DATA and main author of the study. "We wanted to counter this limited view by adopting a holistic approach to the cluster. The conclusions are clear: a strong mineral industry cluster in Quebec generates numerous positive, measurable economic benefits for the province."
Entitled "Quebec's mineral industry cluster: socio-economic contribution to the development of Quebec and its regions", the study evaluates the contribution of Quebec's mineral industry to the province's economy through a range of economic indicators, including investment, job creation, value of exports, net tax contribution and technology innovation. The study's conclusions are based on factual data and are the result of a collaborative effort that included a range of private, public and parapublic partners.
An important lever for economic development
"The leverage effect of the mineral industry cluster on Quebec's economy, as revealed by E&B DATA's study, is impressive. Although it represents only 1.4% of establishments within primary natural resource extraction and secondary industries, Quebec's mineral industry cluster generates 5.1% of employment, 10% of investments and 12% of exports within these two areas," said Mr. Michel Leclerc, chairman of the AMQ. "This data confirms the relevancy of continuing to strengthen Quebec's mineral industry cluster," he added.
"E&B DATA's study underscores the importance of the mineral industry cluster to Quebec's economy. With the Plan nord and the Stratégie minérale du Québec, the mining sector's role in creating new economic poles can only expand. To optimize this contribution, the government and the public's support will be essential," said Mr. Ghislain Poirier, president of the AEMQ. "In order for that to happen, the mineral industry knows it has to raise awareness of it. This study is a first step in that direction," he concluded.
The complete E&B DATA study is available on the web sites of the AMQ (www.amq-inc.com) and the AEMQ (www.aemq.org).
About E&B DATA
Founded in 1998, E&B (Economic & Business) DATA is a consulting firm providing information products in economics, business metrics and valuation of established and emerging industrial sectors. E&B DATA specializes its research in business location factors, impact studies and wealth creation conditions.
About the Association minière du Québec
The Québec Mining Association is a provincial organization representing Quebec's mining industry. It is composed of companies active on the Quebec territory, of metallurgy companies, junior mining exploration companies and mining entrepreneurs.
About the Association de l'exploration minière du Québec
The mission of the Quebec Mineral Exploration Association is to promote and defend the collective interests of its members by promoting the development, implementation and dissemination of leading-edge practices. The Quebec Mineral Exploration Association contributes to socio-economic development in a sustainable and responsible manner.
SOURCE Association minière du Québec inc.
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