Quebec govt to invest C$2.13m in Canadian Metals’ silica mine
VANCOUVER (miningweekly.com) – The Quebec provincial government has given its investment vehicle Ressources Québec approval to invest C$2.13-million in junior project developer Canadian Metals, completing the company’s C$9.2-million global financing plan to implement its Langis high-grade silica project.
The government corporation will participate in a scheduled investment plan in the company’s equities over the four phases of implementation.
The investment will be used to support the implementation phases of the project, including the feasibility study and the environmental impact study, as well as the application for a certificate of authorisation for the silicon alloy plant project, in Baie-Comeau.
The government investment is part of an C$8-million funding campaign over the next few months to finalise the company’s financing plan, in order to be able to undertake all implementation phases.
Silicon-based materials can be formulated to provide a broad range of products from more durable, faster building materials to smarter electronic devices, solar panels and more efficient wind turbines.
The plant will produce silicon granules of 10 mm to 100 mm in diameter; silica fume, a co-product used as an additive in concrete; and slag, a co-product used for manganese alloys. The Baie-Comeau factory will produce 50 000 t/y of silicon alloy and 24 000 t/y of silica smoke. It will be equipped with three electric arc reduction furnaces of 35 MW each and will also include a cogeneration plant for heat recovery.
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