A series of wildfires in Quebec has led to the suspension of mining operations in the region, as the province takes measures to combat over 150 forest fires. In an effort to prevent the start of new fires, the Quebec government has implemented road closures and access bans to forested areas, expanding their scope from June 4 onwards.
The ongoing forest fire situation has directly impacted exploration operations for mining companies. Patriot Battery Metals Inc., which owns the Corvette lithium project in the Eeyou Istchee James Bay region, stated that they have temporarily ceased drilling and surface exploration activities until the situation improves.
The demand for lithium, a crucial metal used in electric vehicle batteries, has seen a significant surge in recent times. As a result, Patriot’s share price has experienced substantial growth, rising by 485% in the past year, reflecting investor confidence in the sector.
The wildfires in Quebec have prompted a necessary halt in mining operations to prioritize the safety of personnel and prevent further environmental damage. As the province continues its efforts to combat the wildfires, mining activities will remain on hold until the situation is under control.