Doing business in Québec takes too much time and overnight investment

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The Québec of François Legault’s good to say ” open for business “, it is not enough for the president of Osisko Royalties Gold.

Sean Roosen, chairman of the board of directors and chief executive officer of the mining company, has no language in his pocket. He does not hesitate to climb up to the niche to denounce the disappearance of head offices industry in Canada, a phenomenon that leads to the loss of many jobs paid very well.

He has recently denounced the sale of the canadian Goldcorp, the american Newmont, which thus becomes the owner of the mine Éléonore, Quebec, near James bay.

He also lamented the sale of Barrick Gold, which has resulted in the elimination of the headquarters of toronto to the company, and almost 100 jobs in the country.

“There is much talk of jobs, quality at this time, at $ 100,000 per year and more. Well, in Canada, between 20% and 30% of the jobs of more than $ 100,000 are in the natural resources sector “, explains the head of the company.

But companies are far from being the only ones to blame, according to him.

A mining project has today much more likely to happen in countries other than Canada, due to the large number of stakeholders and the bureaucracy of each level of government, said Mr. Roosen, Monday, on the sidelines of a speech at the canadian club of Montreal.

“A risk “

“I have already spoken with Felix Chee, the then head of China Investment Corp., in Canada. For him, Canada was perceived as a risk : there are so many levels of government. If you rules on the federal side, it takes so long that it may be that the provincial government will have changed, or the elect to the city, or the chief of the First Nations in the locality in which is the mine. There are so many regulations that can change, it is impossible to know how long a process can actually take. “

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It does not militate for a relaxation of the rules, but for their simplification, ” he said.

“It is certain that today, when you do the calculation of a project, you have to know how long it will take to make it take off. If it takes 10 years, you know that you have an administrative fee to [pay] for 10 years. It is difficult to find shareholders willing to wait for 10 years. They will put their money in Apple to be the place, they do not have 10 years, they want performance now. “

These statements concur with those of François Legault, who said during the election campaign that he wanted to ensure that environmental assessments for mining projects take place more rapidly to improve Quebec’s competitiveness in this industry.

This is also the opinion of the mining Association of Quebec, calling on the government to quickly address the reduction of timeframes that characterize the development of mining projects in Québec.

 

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