Quebec Fails to Handle Influx of Miners

January 25, 2018

Quebec Fails to Handle Influx of Miners

Earlier this month we reported, that Canada could become a new mining hub. Canada's province Quebec has been attracting attention of many miners from China and other countries. Usually they leave their countries due to tight regulation and other negative factors, such as expensive electricity. 

However, Canada's largest utility Hydro Quebec which previously had been luring miners to Quebec, is changing its commercial strategy in spite of enormous amount of bids for launching a mining project in the province. Overall amount of bids has exceeded 70 and the company does not have long-term capacity to meet miners' demand. 

Company's spokesman Marc-Antoine Pouliot said to Reuters: 

"We are receiving dozens of demands each day. This context is prompting us to clearly define our strategy. We won’t be able to power all the projects that we’re receiving. This is evolving very rapidly so we have to be prudent."

Canada's largest audit company KPMG Canada is reporting that Quebec may face a shortage of suitable sites for miners. It has already forced some entrepreneurs to split their businesses into smaller parts. 

Executive director of KPMG Canada Laurent Feral-Pierssens said: 

"This is the tip of the iceberg, as only a fraction of the initiatives have reached out to Hydro Quebec yet."

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