Mining and mineral exploration is booming in Quebec with almost $3 billion invested in 2010.
The province's Institut de la Statistique reported Nov. 22 that a record $2.92 billion was spent last year, up 43 per cent from 2009.
It was the seventh straight year of increase in total mining investment. Each of the last three years have topped the $2 billion barrier in investment.
The same level is being forecasted for 2011.
The bulk of the activity is the mining triangle regions of C?te-Nord, Nord-du-Quebéc and Abitibi-Témiscamingue, the latter being the only region to have broken the billion dollar barrier at $1.42 billion, about 49 per cent of overall spending.
Mineral exploration spending was posted at $512 million, up 35 per cent from 2009. An additional $127 million spent in the supply and service sector with off-site capital and repair costs.
The institute said there is almost parity between the major and junior miners in dollars spent with $1.16 billion spent by the majors and $1.12 billion by the juniors.
In dollars spent, gold remains the most sought after commodity at 54 per cent, followed by copper-nickel-zinc (17 per cent), uranium (8 per cent) and ferrous metals (6 per cent).
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