ICBS Limited (ICBT)

[tomikenow]

Uggh, for a number of reasons. Tons of mining acreage exist, lots of newer small companies are trying to get a piece of the pie, long time government restrictions and recent renewal and discovery of available minerals in the area.

May 9, 2011
"The plan encompasses all of Quebec’s territory above the 49th parallel, an area of about 297 million acres but a population of just 120,000 people.

The region contains substantial deposits of base metals that are in high demand from China, including iron ore, zinc and nickel. It also has deposits of lithium, a key component of modern batteries, and rare earth elements, commodities that China produces but is increasingly reluctant to share.

Roussos G. Dimitrakopoulos, a professor of mining at McGill University in Montreal, said that in recent years large mining companies had been interested only in Quebec’s iron ore deposits. As a result most new mining projects have been undertaken by small companies focused on gold and diamonds.

“There used to be a thriving mining industry in Quebec,” Professor Dimitrakopoulos said. “The government is now saying: ‘O.K., why can’t it happen again?’ ”"---
http://www.nytimes.com/2011/05/10/business/energy-environment/10arctic.html