Quebec finance minister defends $1.1B investment in lithium project amid criticism by watchdog
Posted May 12, 2026 1:02 pm.
Last Updated May 12, 2026 2:05 pm.
On Tuesday, Finance Minister Eric Girard defended the $1.1 billion investment in the Nemaska Lithium project in northern Quebec, a project criticized in the latest report by the Commissioner for Sustainable Development.
Commissioner Janique Lambert noted that the government proceeded with this investment despite an unfavorable opinion from the Ministry of Natural Resources.
During a National Assembly committee hearing on Tuesday morning, Liberal MNA Frédéric Beauchemin argued that this investment had been scrapped and written off, a claim Girard denied.
The finance minister stated that he was unaware of the Ministry of Natural Resources’ unfavourable opinion, but that he relied on a summary to authorize the investment based on a favourable recommendation from his own ministry.
“Clearly, there is a lack of information,” Beauchemin declared during a sometimes tense exchange with Girard.
“You don’t even think to go to the specialist in your circle and ask, ‘Hey, minister of natural resources, what do you think of this project?’ Doesn’t that even cross your mind? You rely solely on your own silo—you don’t look outside?”
“I had a comprehensive report from the Ministry of Finance that outlined all the risks and drawbacks,” replied Girard.
“You don’t make investments of this magnitude without conducting a rigorous and professional analysis and holding in-depth discussions,” he added. “This work is always carried out meticulously and professionally at the Ministry of Finance. That is what was done in this case.”
He acknowledged that it is an “extremely risky” project, but that “it is the government’s role to take risks at the outset.”
Girard pointed out that the partner in this $4 billion project is Rio Tinto, “a global leader in mineral processing.”
For her part, Québec solidaire MNA Alejandra Zaga Mendez used rice grains in a jar to illustrate the fortune of Couche-Tard CEO Alain Bouchard and called for higher taxes on large fortunes.
–This report by La Presse Canadienne was translated by CityNews
