Copper One: Moreau is not afraid of other pursuits

Photo Simon Clark
The natural Resources minister, Pierre Moreau

Patrick Bellerose

Wednesday, march 21, 2018 12:30

UPDATE
Wednesday, march 21, 2018 12:30

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The 8 million dollars paid to the mining company Copper One to buy back its rights to explore will not open the door to other claims, ensures the minister Pierre Moreau.

• READ ALSO: Quebec pays$ 8 Million for a pile of rocks

“The case of the Copper One is a folder that is based on facts that are unique,” assured the minister of natural Resources on Wednesday morning.

The Journal revealed yesterday that Quebec had paid 8 million dollars to buy the mineral rights of the company in ontario in the Abitibi region. The territory exploration was challenged by the Algonquins, which threatened to draw up a dam to prevent the Copper One to go on his property from River Gold, in the la Vérendrye wildlife reserve.

“We are in a situation that was rather explosive, argued Pierre Moreau. In the context of judicial proceedings, the prosecutors in the folder were of the view that the government had to set that folder. And so, what we did is that we settled the case on the same basis as was used for the Island when the government has removed the rights.”

Case-law?

But other mining companies now believe that this agreement creates a precedent that will allow them to receive a compensation from the government.

Strateco resources, for example, attempts to allow a continuation of nearly 193 Million of the$ against the government, due to a moratorium, enacted in 2013, which prevents him from operating his mine in the James bay area. The company said to have lost tens of millions of dollars because of this decision.

Pierre Moreau, to him, is categorical. “There is no Pandora’s box to open it, the rights are very well defined by the mining Act”, he said.

The agreement creates no precedent. “This is not the case, because it is a case that is settled out of court,” said Pierre Moreau.

More details will follow…