Québec's Plan Nord, which is to be officially launched shortly, provides for the development of Québec's territory north of the 49th parallel over a 25-year time horizon. Sustainable development is an essential component of Plan Nord, and approximately 50% of the territory will be excluded from all industrial activity under the terms and conditions that are expected be defined in the official unveiling of Plan Nord. This aspect of the plan is of particular concern to the mining industry.
In advance of the Plan Nord announcements, in April 2011, the government of Québec announced significant budget measures relating to Plan Nord that are of interest to the mining industry. These include $1.193 billion in infrastructure investments over five years; $500 million for equity participation in structuring projects by Investissement Québec over that same period; and the creation of the Fonds du Plan Nord, a specific fund dedicated exclusively to the completion of Plan Nord. Approximatley $480.1 million of the infrastructure funding will be applied to extend Route 167 to Mont Otish as well as the reconstruction of Route 389 between Baie-Comeau and Fermont. These access routes will support project development in the area.