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Until recently Quebec was seen by mining executives around the world as having the best policy environment in the world for investment, mainly thanks to a predictable regulatory environment, the absence of territorial claims in Northern Quebec, high quality geo-scientific data easily accessible to miners, good infrastructure, a skilled workforce, and an attractive mining tax system.

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Much of Canada’s mining industry faces a short-term donnybrook but bright prospects in the long-term. However, the industry’s short-term difficulties may have consequences for the economy as a whole when economic recovery begins.

The world may shift from a credit crunch to a commodity crunch.

The most endangered mining companies are in exploration. These are the often small companies that find the resources and then typically hand them off to larger production companies for development. Canadian exploration companies dominate the sector worldwide.