MONTREAL, QUEBEC--(Marketwire - March 18, 2013) - The Quebec Mining Exploration Association (AEMQ) left disappointed the Quebec government's forum on mining royalties held today in Montreal . As an ecomonic association representing over 250 SMEs and 2,000 members of Quebec's mining exploration sector, AEMQ was invited to participate in the forum.
"We came here in good faith, hoping to find an ear that would attentively listen to our views, which are based on concrete, factual and validated analysis with respect to the anticipated effects of government proposals regarding the development of our industry. Despite a highly polarized debate, a consensus seems to be emerging on the need for continued dialogue before making any decision that may prove regrettable for Quebec," said AEMQ President, Philippe Cloutier.
AEMQ stated that mineral exploration in Quebec accounts for 700 to 750 million dollars in annual revenues that are injected into our resource regions. These activities directly support about 4,000 jobs. Exploration is also spearheading research and development supporting an 8 billion dollar industry for a total of over 50,000 jobs.
"The mining taxation system was already modified in 2009, and while the industry is facing a financial crisis, the government is looking to jeopardize everything the Quebec exploration industry has been working hard to develop over the past 50 years," Mr Cloutier added.
"AEMQ's mission is to promote responsible and sustainable exploration of Quebec's mineral resources and its vital contribution to the Quebec economy. As such, our analyzes indicate that the application of ad valorem royalties will only result in putting nearly 4, 000 direct jobs at risk and such action is simply unacceptable to us," said Valérie Fillion, Executive Director of AEMQ.
AEMQ remains hopeful that the Quebec government will lend an attentive ear to exploration SMEs that scour the world to attract investment in Québec and develop projects that contribute to the collective wealth while creating and maintaining quality jobs in resource regions and across the country.
About the Quebec Mining Exploration Association (AEMQ)
The Quebec Mineral Exploration Association (AEMQ) is a non-profit organization formed under the Companies Act, Part III. The AEMQ represents players in the field of mineral exploration in Quebec. The AEMQ was founded in 1975 by individuals (prospectors, geologists, geophysicists, entrepreneurs, developers and exploration managers) in the mineral exploration industry with a goal to increase exploration and support the development of mining entrepreneurship in Quebec. The AEMQ has over 1684 individual members (prospectors, geologists, geophysicists, brokers, tax experts, lawyers, etc.) and 246 corporate members (major and minor mining exploration companies, geological and geophysical engineering consultancy firms, drilling companies, service providers, equipment manufacturers, etc). It is run by a board of directors composed of 20 representatives from different areas of mining exploration. The AEMQ Head Office is located at 132, avenue du Lac, Suite 203, Rouyn-Noranda (Québec) J9X 4N5 For further information, please visit the AEMQ website at www.aemq.org.