FACTS ‘N’ FiGURES — Quebec mineral shipments rise

Preliminary data show that the value of mineral shipments from Quebec mines rose slightly in 1997, to roughly $3.5 billion.

Exploration and development expenses were also up by 4.4% last year, to $155 million. However, overall investment in the mining industry fell 14%, to just under $1 billion, according to a Quebec government publication.

The drop in the price of gold last year led to an 8% decrease in Quebec gold shipments and a 20% reduction in the value of output, to US$556 million.

Inmet Mining began commercial production at the Troilus mine north of Chibougamau in January, then attempted to sell the mine to Homestake Canada in November. (The deal has since fallen off the rails). The Silidor mine, owned by Cambior and Battle Mountain Gold, closed in June as a result of depletion of reserves.

The average price of zinc rose for much of the year, resulting in a 23% upturn in the value of Quebec’s zinc output (despite a 6% downturn in the amount of zinc produced in the province). The value of zinc shipments was $335 million.

The year saw Noranda invest $12 million in the reopening of the Gallen zinc mine in Rouyn-Noranda. Cambior resumed production at the Gonzague-Langlois mine near Lebel-sur-Quvillon in July, following a jump in the price of zinc.

The average price of copper dropped slightly in 1997, the volume of production shipped from Quebec mines was up 4% and the value of that production was up 5%, reaching $431 million.

MSV Resources stopped producing copper at its Portage and Copper Rand mines in 1997. Portage’s reserves are depleted, and MSV is seeking funds to develop Copper Rand at depth.

Iron ore shipments from the province also rose in 1997, by more than 1 million tonnes, to roughly 15 million tonnes, whereas shipments of industrial minerals declined by 10% following the implementation by the French government (and later, several other countries) of a ban on the import of asbestos and most asbestos products.

Total investment in Quebec’s mining industry was estimated at $997 million in 1997, off 14% from 1996. And during the first three quarters of the year, financing in the mining industry on Quebec capital markets was 20% lower than during the same period of the previous year.

Employment in the mining industry dropped to 17,817 man-years, from 18,340 in 1996.