Saguenay, February 25, 2014 – At a Saguenay Chamber of Commerce business lunch today, Raymond Chabot Grant Thornton publicly shared the highlights of the analysis of the Lac à Paul mining project it conducted for Arianne Phosphate.
Given the project’s size and its impact on economic growth in Quebec, Raymond Chabot Grant Thornton President and CEO Emilio B. Imbriglio was present for the report’s release. “This project will create wealth. And that’s what Quebec needs and must have to thrive. We have to develop our natural resources in a responsible and environmentally friendly manner. This project meets these requirements. Our society needs powerful development tools to spur growth, and Arianne Phosphate’s project is truly such a tool,” stated Mr. Imbriglio.
Saguenay office partner Éric Dufour, who also took part in the presentation, further pointed out that “rarely does a project like this one come along—a project that delivers a lasting impact and spinoffs of over $12 billion, that entails hiring more than 500 direct workers a year during construction and that then creates over 1,400 direct and indirect jobs for the more than 25-year lifetime of the mine. No doubt about it—this is a crucial project for our region!”
The analysis released at the lunch confirmed that Arianne Phosphate’s Lac à Paul mine project will be the biggest investment in the Saguenay-Lac-Saint-Jean region in the past decade. It will have a huge impact, raising average worker income in the region and boosting collective wealth while adding to the ranks of mining subcontractors, as well as diversifying the regional economy beyond the traditional logging and aluminum sectors. In addition to attracting new residents and a talented workforce with special expertise, the project will also generate new opportunities for educational institutions.
Arianne Phosphate’s Chief Operating Officer, Jean-Sébastien David, who was also in attendance, answered questions from the business people present. He said that he was proud that Lac à Paul was a major project for the economic development of the region and of Quebec. “Arianne Phosphate is working with all stakeholders, including First Nations, to make sure that the project will help our communities to grow and become even more competitive. As a responsible company, we want strong, sustainable growth for our society, in consultation with local communities. That is why we are committed to building a key project that the region and Quebec will be proud of,” said Mr. David.
Brian Kenny, President and CEO of the mining company, underlined that the project is creating quality jobs in the region. “Our Chicoutimi head office already has more than 25 people working to develop this world class project, and this number is constantly increasing.” He added that he is proud that Arianne’s Lac à Paul project is Quebec based. “Quebec is recognized for its mining expertise. Arianne Phosphate is very happy to be able to count on this expertise while taking the project through development stages to production of its high quality phosphate concentrate” concluded Mr. Kenny.
About Raymond Chabot Grant Thornton
Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,400 people, including some 230 partners in more than 100 offices in Quebec, eastern Ontario and New Brunswick. For over 30 years, Raymond Chabot Grant Thornton has been a member of Grant Thornton International Ltd, providing clients with the expertise of the member and correspondent firms in more than 100 countries.
About Arianne Phosphate
Arianne Phosphate (“Arianne Phosphate Inc.”) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 85.2 million shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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