The international mining and minerals industry is greatly affected by fluctuating demand in major markets and the impact of those fluctuations on prices. In Québec, the renewal of Plan Nord and the modernization of the legal framework governing exploration and exploitation have enabled  mining companies to better plan their activities when global markets are favourable to them since competitiveness is a decisive factor in the decision to undertake or pursue mining projects. An understanding of the applicable laws and regulations at every stage of the mining cycle is critical to the success of such projects.