The Government of Québec announced a $2.1 billion investment by ArcelorMittal Mines Canada (AMMC) on May 20 in Fermont. This investment will enable AMMC to increase production at the Mont-Wright mine by 50% and build a second pellet plant in Port-Cartier.
“This major project is a perfect fit with the Northern Plan. The Northern Plan will make it possible to create or maintain 20,000 jobs a year on average and will generate $14 billion in income for the government and Québec society. Today, we are talking about the creation of 900 permanent direct jobs, the construction of new housing and transportation and energy infrastructures, and a second pellet plant in Port-Cartier, as well as a major socio-economic boost for the Côte-Nord region,” said Québec Premier Jean Charest. Deputy Premier, Minister of Natural Resources and Wildlife and Minister responsible for the Northern Plan Nathalie Normandeau, and Minister for Natural Resources and Wildlife Serge Simard were also present at the announcement.
The development of mineral resources plays an essential role in Québec’s economy, especially in the region covered by the Northern Plan. AMMC is a major economic player in Québec, contributing $500 million to its GDP. The new investment makes ArcelorMittal a leading actor in the implementation of the Northern Plan. Its Mont-Wright Mining Complex currently employs 1,100 workers and can produce 16 Mt of iron ore concentrate a year. By December 2012, the complex will employ 1,500 workers and will be able to produce 24 Mt of concentrate. The Port-Cartier Industrial Complex employs some 300 people and can produce 9.5 Mt of iron oxide pellets. By spring 2014, the workforce will have increased by 500 and the complex will be producing 17.5 Mt of pellets.
Northern Plan website