Royalty Increases For Quebec’s Mining Industry Are On Hold… At Least For The Moment

Québec's Finance Minister, Nicolas Marceau, unveiled the province's strategy to correct its budget deficit in 2013-2014 by implementing spending restraints and imposing higher taxes for the wealthy while sparing mining companies from the anticipated increase in mining royalties.... for the time being. 

Described as an immense source of potential opportunity for Québecers, Mr. Marceau's intention for the mining industry is to modify the regimes that establish the framework for developing Québec's non-renewable resources in order to allow Québecers to derive the maximum wealth possible, while simultaneously ensuring that the environment and communities are protected. 

The budget tabled on November 20, 2012, by minority government of the Parti Québecois (the "PQ") is four months ahead of schedule, thus leaving the PQ government little time to address all of the measures it intends to implement in order to stimulate private investment in Québec, particularly in