{"id":8913,"date":"2018-08-22T15:47:13","date_gmt":"2018-08-22T22:47:13","guid":{"rendered":"https:\/\/www.vanadiumcorp.com\/?p=8913"},"modified":"2020-12-15T13:23:06","modified_gmt":"2020-12-15T21:23:06","slug":"vanadiumcorp-applauds-the-government-of-quebec-248-million-investment-in-the-blackrock-metals-project-and-the-development-of-the-grande-anse-sector","status":"publish","type":"post","link":"https:\/\/www.vanadiumcorp.com\/releases\/vanadiumcorp-applauds-the-government-of-quebec-248-million-investment-in-the-blackrock-metals-project-and-the-development-of-the-grande-anse-sector\/","title":{"rendered":"VanadiumCorp applauds the Government of Qu\u00e9bec $248 million investment in the BlackRock Metals project and the development of the Grande-Anse Sector"},"content":{"rendered":"
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VANCOUVER, BRITISH COLUMBIA<\/strong> \u2013 August 22, 2018, VanadiumCorp Resource Inc. (TSX \u201cVRB\u201d) (the “Company”) applauds the announcement made yesterday in Saguenay, Quebec, Canada outlining investment in the Blackrock Metals project. VanadiumCorp owns 100% of the Lac Dore Vanadium Project adjacent to Blackrock Metals permitted mining project near Chibougamau, Quebec, Canada.<\/p>\n

News release below from the Office of the Deputy Prime Minister, Minister of the Economy, Science and Innovation and Minister responsible for the Digital Agenda:<\/strong><\/p>\n

The Government of Qu\u00e9bec is providing a total of $185 million in financial assistance to BlackRock Metals to support the construction of an open-pit mine of iron, vanadium and titanium near Chibougamau<\/span>, in the Nord-du-Qu\u00e9bec region.\u00a0This financial assistance is also aimed at setting up a secondary processing plant in the\u00a0Grande-Anse<\/span>\u00a0sector\u00a0of the <\/span>industrial port area of \u200b\u200bSaguenay.\u00a0The project represents investments valued at nearly $1.3 billion and will create more than 800 jobs during the construction of the mine and mill.\u00a0Some 200 jobs will also be created during the operation of the mine, while the operation of the processing plant will result in the creation of about 300 jobs.<\/p>\n

The above government financial support includes an equity investment, through Capital Mines Hydrocarbures, of $85 million in the capital of BlackRock Metals, a $50 million loan from Investissement Qu\u00e9bec, acting as an agent for the government, as well as a $50 million loan granted by Ressources Qu\u00e9bec from its own funds.<\/p>\n

In addition, the government is providing $63 million in financial assistance to Port Saguenay Developments, a subsidiary of the Saguenay Port Authority, to ensure the implementation of the energy infrastructure necessary for the implementation of BlackRock Metals, which could be favorable to the attraction of new businesses in the\u00a0Grande-Anse <\/span>sector\u00a0of the<\/span>\u00a0Saguenay industrial-port zone.<\/p>\n

The Deputy Prime Minister, Minister of Economy, Science and Innovation and Minister responsible for the Digital Agenda, Mme<\/sup>\u00a0\u00a0Dominique Anglade, and the Minister for Maritime Affairs and Minister responsible for the Bas-Saint -Laurent, Mr. Jean D’Amour, accompanied by the Member for\u00a0Dubuc<\/span>\u00a0and Parliamentary Assistant to the Prime Minister for the Saguenay-Lac-Saint-Jean region, Mr. Serge Simard, made the announcement today of these financial contributions awarded to BlackRock Metals and Port Saguenay Developments.<\/p>\n

Quotes:
\n<\/strong>“Our Government is proud to promote the success of this major BlackRock Metals investment project, which will enhance the mining potential of the Nord-du-Qu\u00e9bec region and strengthen Qu\u00e9bec’s expertise in second-stage ore processing in the region. Saguenay-Lac-Saint-Jean.\u00a0Today, we are taking a concrete step to ensure the implementation of energy infrastructure in the\u00a0Grande-Anse<\/span>\u00a0sector, in order to stimulate the realization of projects that, like this one, bring significant benefits to the industrial port zone. Saguenay and throughout Quebec.\u00a0” Dominique Anglade<\/em><\/span>, Deputy Prime Minister, Minister of the Economy, Science and Innovation and Minister responsible for the Digital Agenda<\/em><\/p>\n

“The establishment of energy infrastructure in the\u00a0Grande-Anse<\/span>\u00a0sector\u00a0and the completion of the BlackRock Metals investment project will, I am convinced, contribute to the success of the industrial-port zone set up in Saguenay within the framework of the Maritime Strategy.\u00a0I also invite other companies to take advantage of this industrial-port area to realize projects that will improve their competitiveness and contribute to the growth of the local and regional economy.” Jean D’Amour, Minister Responsible for Maritime Affairs and Minister responsible for the Bas-Saint-Laurent region<\/em><\/p>\n

“The BlackRock Metals initiative confirms, beyond any doubt, the power of attraction of the Saguenay-Lac-Saint-Jean and the Saguenay industrial-port zone for the realization of major initiatives, particularly in the sector. mining. As a member for\u00a0Dubuc<\/span>, I look forward to this announcement today because it will create many jobs in our region.\u00a0This is excellent news that we welcome with enthusiasm.\u00a0” Serge Simard, MP for\u00a0Dubuc<\/span>\u00a0and Parliamentary Assistant to the Premier for the Saguenay-Lac-Saint-Jean Region<\/em><\/p>\n

“It is with great enthusiasm that our government is taking part in these major BlackRock Metals and Port Saguenay Development projects, which will stimulate sustainable growth in the regional economy.\u00a0Thanks to these projects, we can expect substantial economic spin-offs for Quebec, particularly Nord-du-Qu\u00e9bec.\u00a0” Luc Blanchette, Minister of Forests, Wildlife and Parks and Minister responsible for the regions of Abitibi-T\u00e9miscamingue and Nord-du-Qu\u00e9bec<\/em><\/p>\n

“Our government is pleased to support, through the Capital Mines Hydrocarbures fund, projects such as that of BlackRock Metals, which contribute to the development of Qu\u00e9bec’s mining sector.\u00a0Such projects will, I am sure, help ensure the success of Plan Nord, which will showcase the full potential of our northern territory.\u00a0” Pierre Moreau, Minister of Energy and Natural Resources, Minister responsible for the Northern Plan and Minister responsible for the Gasp\u00e9sie-\u00celes-de-la-Madeleine region<\/em><\/p>\n

“This is a major project creating wealth and jobs in the mining sector for Nord-de-Qu\u00e9bec and\u00a0Chibougamau<\/span> in particular since the company plans to build an open-pit iron, vanadium mine. and titanium. In addition to the jobs created during the construction phase, 200 quality permanent jobs will be created for the operation of this mine. ”\u00a0Jean Boucher<\/span>, MP for Ungava and Parliamentary Assistant to the Minister of Forests, Wildlife, and Parks<\/em><\/p>\n

“Investissement Qu\u00e9bec, through its subsidiary Ressources Qu\u00e9bec, strives to support mining projects such as BlackRock Metals, which have good earnings prospects and are structuring for the Qu\u00e9bec economy.\u00a0Investissement Qu\u00e9bec is proud to participate in the economic development of the regions of Quebec and contribute to the growth of a young mining company here.\u00a0” Pierre Gabriel C\u00f4t\u00e9, President and CEO of Investissement Qu\u00e9bec<\/em><\/p>\n

Highlights:<\/strong><\/p>\n