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Investissement Québec and Ressources Quebec Inc. invest in Tata Steel Minerals Canada Ltd.

Date Closed

November 1, 2016

Lead Office



175.00 Million CAD

On November 1, 2016, Investissement Québec and Ressources Quebec Inc., acting for the Quebec Government, completed a C$50 million loan and C$125 million equity investment in favor of Tata Steel Minerals Canada Ltd. (“TSMC”), a private corporation controlled by Indian group Tata. The proceeds of the transaction will be used to further develop TSMC Direct Shipping Ore Project located in northern Quebec and Labrador.

Investissement Quebec Inc., through its subsidiaries, provides advisory and financial services for organizations setting up their business in Québec.

McCarthy Tétrault LLP advised Investissement Québec and Ressources Quebec Inc., with a team led by Richard O'Doherty (Financial Services) that included Anne-Marie Naud, Philippe Leclerc, Martin Thiboutot, Charles-Alexandre Jobin, David Frost, Pierre Langlois and Daniel Benay (Business), Valérie Mac Seing and Laura Mazigi (Real Property and Planning), Dominique Amyot-Bilodeau (Environmental), Christina Toteda (Labour and Employment), Katherine Girard and Anne-Marie McDonald (Financial Services), and Michel Bergeron and Marcel Leblanc (Legal Translation).