The local mining sector is encouraged by the MOU signed with Quebec just before Christmas.

The agreement, which is still being finalized, will help to build hydro capacity and reap Newfoundland and Labrador a greater share of the money generated by the Upper Churchill project.

The previous contract saw Hydro Quebec buying power at a nominal rate that had not changed since 1969.

Amanda McCallum from Mining NL states that any development which increases capacity is a positive for the mining industry.

She says the mining sector requires access to significant amounts of energy, “so that’s critical to support mining operations and infrastructure development, and being able to meet decarbonization goals.”