CAD8 Million Government of Canada Support for Mining Organizations
Immigration Immigration

CAD8 Million Government of Canada Support for Mining Organizations

Economic Development Agency of Canada for the Regions of Quebec announced financial support totalling CAD 7.802 million for Corem,

Economic Development Agency of Canada for the Regions of Quebec announced financial support totalling CAD 7.802 million for Corem, Polyplast, HydroTech Mining and Les Entreprises Parlec for conducting applied research, increase their production capacity and enhance their productivity, leading to the creation and maintenance of 67 jobs.

Located in Québec, Corem, Canada’s largest ore processing centre of expertise, is receiving two non-repayable contributions totalling nearly $7M. This centre provides its services to several mining businesses in regions across Quebec and Canada. Its expertise is world‑renowned. An initial contribution of $3.6M will enable Corem to acquire specialized equipment and fit out its laboratories to more easily deploy cutting-edge mining technologies. This financial assistance will support the transition to a green economy. A second contribution of $3.37M will enable Corem to conduct applied research, innovation and technology and process transfer activities. The two projects will lead to the maintenance and creation of 54 jobs.

Polyplast, a business that manufactures resin-moulded components to replace a range of components affected by friction, impacts or abrasion, is receiving a repayable contribution of $350,000. CED’s support will enable the Amos-based business to expand its building and acquire digital production equipment, leading to the creation of three jobs.

HydroTech Mining, a Val-d’Or SME specializing in the sale, design, and manufacture of pumping and drying systems for the mining sector, is receiving a repayable contribution of $294,687. CED’s support will enable the start-up to acquire and install production equipment and software, including a wheel loader, an overhead crane, a compressor, an integrated management software package and drawing software, leading to the creation of 9 jobs.

Les Entreprises Parlec, a Val-d’Or business that machines unique, high-precision components on demand for the drilling, mining, and forestry industries, is receiving a repayable contribution of $187,500. CED’s support will enable the business to acquire a robotic system, including components, transportation, and installation. The project will lead to the creation of one job.

The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec’s economic recovery relies, among other things, on organizations that are well grounded in the regional economy. Innovation is a major contributor to growth, as well as a key asset in rebuilding a stronger, more resilient, and more just economy for all.

Related Stories

No stories found.
SteelGuru Business News
www.steelguru.com