Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A motion asking the Quebec government to withdraw its offer to finance the province’s remaining asbestos mine has failed.
The Montreal Gazette reports that an anti-asbestos mining motion filed by Lisette Lapoint, wife of former Parti Québécois premier Jacques Parizeau, who now sits as an independent, was supported by only a handful of pro-sovereignty politicians. No one else in the Quebec legislature supported the motion, which pointed to research concluding that asbestos “is carcinogenic in all its forms.”
The Quebec government approved a $58 million loan guarantee last year to Balcorp Ltd.. The company plans to reopen the Jeffrey Mine and sell asbestos to India.
Asbestos is banned in over 50 countries and is strictly controlled in Canada.
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Typical Quebec – they don’t care about anybody else but themselves – as long as the product is not sold or used in Quebec to hell with the rest of the world
Their arrogance and selfishness boggles the mind