Securing Canada’s Position as a Critical Minerals Superpower: The Quebec Mining Industry

In this first in a series of Economic Viewpoints on critical minerals in Canada, we explore the features and future of the Quebec mining industry. With an established foothold in the aluminum and iron ore sectors and 34 active mines extracting everything from copper and lithium to gold, La Belle Province is among the top producers of metals and minerals in Canada. It boasts a wealth of rich mineral reserves and relatively cheap electricity. And its critical minerals strategy and battery initiative are poised to make the province a key global producer of green technologies and critical minerals. However, many obstacles stand in the way of new mines, refining facilities and battery plants. Chief among these are a lack of electricity production and other infrastructure and a tight labour market. High interest rates and insufficient foreign capital compound the costs of these already complex projects. That said, important strides are being made in exploration investment, and plans are in the works to build new power plants. Overcoming these challenges could fuel economic growth and job creation for years to come.