MemoireRedevancesMinieres - Minvest Capital

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Download "Mémoire présenté suite au forum sur les redevances minières" (In French Only)

Memoir Summary

The government of Quebec has demonstrated, using its own consultation document and criteria, that the new projected tax regime is inferior to the one currently in place in terms of fairness, maximization of revenue for the government and economic efficiency. The new regime is not viable and condemns our mining regions to a future of begging. Quebec suffers a shortage of active mines. No royalty regime can stay up unless there are a critical number of mines in activity. The government of Quebec has to have the leadership to explain the facts and trust its citizens’ judgment. Any eventual modification has to account for the issues the industry faces and the risks it entails for the local communities. It is unusual that local, regional and first nation communities, depending on the case, haven’t had their share of the royalties. The sharing of the tax revenue done according to transparent guidelines should be the priority of the regime review process. Sharing the royalties among the local authorities and the provincial government would help improve greatly the social acceptance of mining projects. The alliance of our human resources and financial capital under a stable and fair legal framework is the necessary condition to the development of our mining resources to the best of Quebec’s interests.

 
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