Notice of release
Québec, October 31, 2023. ‒ In 2022, total investment expenditures in the Québec mining sector were up 10.9% to $4,762 million. Mine complex development, capital, and repair and maintenance work expenditures increased by 16.5% to $3,848 million. Exploration and deposit appraisal work expenditures decreased by 7.7% to $914 million.
This information comes from the publication L’investissement minier au Québec en 2022 released today by the Institut de la statistique du Québec.
Mining expenditures up in the Nord-du-Québec and Abitibi-Témiscamingue regions
Québec’s three main mining regions—Nord-du-Québec, Abitibi-Témiscamingue and Côte-Nord—accounted for 94.3% of expenditures in Québec. In the regions of Nord-du-Québec and Abitibi-Témiscamingue, expenditures increased by 21.5% and 33.7%, respectively, in 2022. For the Côte-Nord region, mining expenditures declined by 24.0%.
Precious metals in high demand
Precious metals, particularly gold, remained the most sought-after commodities in Québec. They represented 64.1% of exploration and deposit appraisal work expenditures in 2022, for a total of $585 million. They were followed by base metals (19.5% for a total of $179 million). Graphite, lithium and rare earths, commodities used in new technologies, accounted for 12.0% ($110 million).
Québec companies accounted for a quarter of exploration work expenditures
In total, 88.2% of exploration and deposit appraisal work expenditures incurred in 2022 were attributable to Canadian companies: 25.0% were made by Québec companies and 63.2% by companies located elsewhere in Canada.
The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and all those wishing to learn more about Québec.