The latter had been invited by the Saguenay-Le Fjord and Lac-Saint-Jean East Chambers of Commerce and Industry to present their project Wednesday in a hotel in Saguenay.

This presentation attracted 350 people, mainly entrepreneurs who wish to benefit from the repercussions of this major investment in the production of iron, vanadium and titanium. This is a record attendance for this type of activity.

It must be said that the project is attractive for local businesses. Two-thirds of this investment is expected to benefit the region, says BlackRock President and CEO Jean Rainville.


The equipment is built largely abroad because we do not have the expertise here, but the assembly will be done here, then all that is electric, concrete, etc. It's going to be done here by local firms.
-Jean Rainville


He assures that the financing of the project, which was launched in 2008, is almost complete.

The contribution of the Government of Quebec would be of the order of 15%.

The start of the work is conditional on the environmental approvals that the BlackRock management hopes to obtain by the end of the year.

"We do not know what we will do if the license comes later. Are we going to delay construction for a few months? Maybe, but it's imminent, it's not a matter of years, but of months, "said Jean Rainville.

The Bureau of Public Hearings on the Environment (BAPE) is expected to announce shortly the launch of the project's environmental analysis process.

The treatment plant, which will be built on the Grande-Anse industrial-port site in the La Baie borough, will require 300 cubic meters of water per hour. This water will be drawn from the water table at Laterrière.

The Mayor of Saguenay, Josée Néron assures that the Quebec government should help the city to finance this work. There will also be a contribution from the company.

It's going to be a bit the same principle as the hydroelectric dams. Yes we will contract a debt, but we will have income to make the project profitable.
-Josée Néron, Mayor of Saguenay

BlackRock expects to launch the first tenders within two months.

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