Thanks to a favourable geological context for the discovery of diamondiferous kimberlites, Québec is currently a major centre for diamond exploration in Canada. The discovery of promising showings and the sheer scale of exploration investments – $27M in 2007– are testimony to the Québec’s significant potential.
In order to maximize the benefits from the emerging diamond industry, the gouvernement du Québec recently instituted a Strategy for the Accelerated Development of Québec’s Diamond Potential. This iniative will support the industry at all stages of development, from the initial diamond discovery to cutting and polishing.
Québec’s assets already include a qualified work force and a training centre and two companies that specialize in diamond cutting and polishing, in addition to established high value-added jewelry businesses.
Businesses will find a favourable investment climate in Québec:
- Government support for all development stages of the diamond industry;
- advantageous fiscal measures for mining exploration;
- specialized venture capital funds like SIDEX and SODEMEX;
- possibility to consult and acquire mining title and geoscientific information and data by using the Internet;a stable mining regime;
- the availability of a highly qualified work force;
- clear and well established agreements with arboriginal communities that favour the harmonious development of mining activities with both the Cree and Inuit First Nations;
- a well-developed airport system;
- privileged access to the American market.