Earlier this year Canadian province Quebec turned out to be very attractive for miners due to its relatively cheap hydroelectric power. Yet from now Quebec is increasing costs, according to a moratorium issued today, June 8
The province had been welcoming mining companies until it was flooded with them and had to recant the hospitality. Hydro Quebec, the state-owned power producer, no longer approves new projects and is working on rules and regulations around mining.
Hydro Quebec hopes to limit the power that can be available for miners to 500 megawatts in total. With this restriction, Hydro Quebec can choose the best from competing companies, and as another important benefit, the economy will grow without harming Canadian residents.