SIDEX: $50M for diversifying exploration activities
Luc Chouinard and Jean Désilets
Direction de la politique et de l'économie minérales

The gouvernement du Québec, working with the Fonds de solidarité des travailleurs de la FTQ, founded the Société d'investissement dans la diversification de l'exploration (SIDEX) in order to promote exploration for mineral substances that have been neglected in the past and to create a leverage effect to encourage further investment by partners and private investors.

SIDEX invests in the capital stock of small companies involved in mining exploration in Québec. With nominal capital of $50 million for a five-year period, SIDEX promotes projects that contribute to:

• exploring in order to diversify current mine production;
• exploring new territories;
• promoting exploration for substances that offer a promising market outlook.

With signed investment agreements totalling more than $1 million, SIDEX will invest $400 000 in Mines Cancor inc., $150 000 in Ressources Strateco inc., $100 000 in Ressources Appalaches inc. and $380 000 in Ressources Majescor inc.

Publication:

Sidex: A $50M fund - To stimulate diversification of mineral exploration activities in Québec (PDF Format, 446 kb)