Quebec

Moderate Risk

Canada · Province · Last assessed Apr 2026

Composite Score 21/25

Higher = lower risk. 22–25 LOW · 18–21 MODERATE · 13–17 ELEVATED · 8–12 HIGH · 5–7 EXTREME.

Permitting Timeline & Predictability

4/5

Strong technical staff at MERN; timelines can stretch on contested projects.

Fiscal Regime Stability

4/5

Plan Nord and Plan Quebecor have offered tax credits; recent royalty review modest.

Political & Security Risk

5/5

Stable Quebec governance; nationalisation rhetoric historically a non-issue for mining.

Infrastructure & Power

5/5

Hydro power abundant; rail and Route du Nord access to most camps.

Indigenous, Community & ESG

3/5

Significant First Nation and Innu consultation requirements; some camps blocked by community opposition.

Assessment Summary

Quebec offers a rare combination of low-cost hydroelectric power, deep technical depth in the provincial regulator, and one of the most prolific gold belts in the world (Abitibi). Capital intensity is among the lowest in North America thanks to power costs and infrastructure access. Royalty and tax regimes are competitive and stable.

The friction points are Indigenous consultation — particularly with Cree, Innu, and Algonquin First Nations — and recent legislative tightening around protected areas. Projects in active consultation generally proceed but on timelines longer than the headline permitting calendar.

Other Canada Jurisdictions

British Columbia Elevated Risk
Newfoundland and Labrador Moderate Risk
Northwest Territories Elevated Risk
Nunavut Elevated Risk
Ontario Moderate Risk
Saskatchewan Low Risk
Yukon Moderate Risk

Jurisdiction risk is one input — geology, capital structure, and management still matter. See the Verdict Framework for full company scorecards.