​C$1-Billion Committed To Development Of Quebec's Mining, Hydrocarbon Industries

The Quebec government has recently announced that the Capital Mines Hydrocarbon fund (CMH Fund), the purpose of which is to acquire equity interests in mining and hydrocarbon projects in Quebec, is officially in effect. The creation of the CMH Fund was initially put forward in connection with the 2012–2013 budget by the Quebec government as part of its plan to develop the northern region of Quebec.  

The Quebec government first launched its sustainable development project for the North in 2011. The project contemplated public and private investments of C$80-billion over 25 years and was touted to become one of the largest economic, environmental and social projects in Quebec's history (Plan Nord). Plan Nord was presented as a long-term program aimed at developing Quebec's territory located north of the 49^th parallel and north of the St. Lawrence River, covering roughly 1.2 million km², which comprises nearly 72 per cent of the territory of Quebec. In addition to