$6.2M for Matagami Transshipment Yard Upgrade
The Minister of Natural Resources and Forestry, and Minister responsible for the Société du Plan Nord, Maïté Blanchette Vézina, made the announcement today, alongside Denis Lamothe, Member of the National Assembly for Ungava. The total project cost is $9.2 million. Two mining project partners in the region, Rio Tinto and Nemaska Lithium, will contribute $3 million to the site's multi-user infrastructure.
The investment from the Government of Quebec and the mining companies will primarily enhance the capacity, reliability and efficiency of transporting ore to markets. As a result, the City of Matagami will be involved in the logistics chain of critical and strategic mineral projects in development.
Quotes:
"Upgrading the infrastructure of the Matagami transshipment yard is a strategic lever for economic development in northern Quebec. By providing rail service to emerging mining projects, particularly in the lithium sector, we are making a real contribution to the development of the critical minerals industry. Quebec is often cited as an example around the world. This announcement reflects our strong commitment to enhancing wealth creation through the development of this attractive and dynamic sector, particularly in the current context."
Maïté Blanchette Vézina, Minister of Natural Resources and Forestry, and Minister responsible for the Société du Plan Nord
"This project to modernize the Matagami transshipment yard will contribute to the economic development of our region. It will also support various mining projects in development."
Denis Lamothe, Member of the National Assembly for Ungava
"The Matagami transshipment yard is a strategic link in the logistics chain for the mining projects in development. By supporting this upgrade, we are supporting the City's desire to make it a real driver of economic growth for the region, to the benefit of our communities."
Jean Boulet, Minister of Labour and Minister responsible for the Nord-du-Québec region
Highlights:
The upgrades will take place from late May to late October 2025. Excavation and site preparation works will begin in the coming weeks. The rehabilitation of existing tracks and construction of new rail lines will then follow.
The City of Matagami's project aligns with Key direction 1 of the Government of Quebec's Northern Action Plan 2023–2028: "Increase connectivity to the territory".
It also meets Objective 2.3 of the Quebec Plan for the Development of Critical and Strategic Minerals 2020–2025: "Improve multi-user infrastructure and access corridors to CSM resources" by optimizing access to resources.
The mission of the Société du Plan Nord is to contribute to the integrated and coherent development of northern Quebec, in accordance with the guidelines defined by the government. This is done in consultation with representatives of the regions and Indigenous nations concerned, as well as the private sector.
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SOURCE Cabinet de la ministre des Ressources naturelles et des Forêts
Contacts: Émilie Savard, Media relations officer, Office of the Minister of Natural Resources and Forestry and the Minister responsible for the Société du Plan Nord, Tel: 367-990-8473; Miriam Audrey Lessard-Légaré, Policy adviser, Office of the Member of Parliament for Ungava, Tel: 581-579-6784; Ève Vaisberg, Media relations officer, Office of the Minister of Labour and the Minister responsible for the Nord-du-Québec region, Tel: 263-362-3605; Information: Eric Duchesneau, Communications advisor, Société du Plan Nord, Tel: 418-643-1874, ext. 66406
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A replay will also be available until September 14, 2025, by dialing 1-646-517-4150 or 1-888-660-6345 (North American toll free), passcode 56423 #. A transcript of the call will also be made available on About Sagicor Financial Company Ltd. Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider with over 180 years of history in the Caribbean, over 90 years of history in Canada, and a growing presence in the United States with over 70 years of history. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate. Sagicor's registered office is located at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St. Michael, Barbados. 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This includes persistency experience and changes in future period cash flows caused by other current period experience (e.g., policyholder behavior that differs from expectations). Shareholders' equity plus net CSM to shareholders: This measure is the sum of commo n shareholders' equity and Net CSM to shareholders and is an important measure for monitoring growth and measuring insurance businesses' value. Core basic earnings per share (Core Basic EPS): represents core earnings attributable to shareholders divided by the weighted average number of common shares outstanding. This is a measure to evaluate the Company's capacity to generate sustainable earnings. Core dividend payout ratio: This is the ratio of dividends declared per share to core basic earnings per share. Core earnings: Core earnings is intended to remove from reported earnings or loss the impacts of the following items that create volatility in Sagicor's results under IFRS, or that are considered to be not representative of Sagicor's business operating performance and long-term earnings potential including among others unexpected market-related impacts, changes in assumptions, management actions, certain acquisition or disposition related amounts and others such as one-time costs, amortization of intangibles, and tax effects of the aforementioned items, gross of non-controlling interests. Non-controlling interests on all the aforementioned items are included in Other. Each of these items is classified as a supplementary financial measure and has no directly comparable IFRS financial measure disclosed in Sagicor's financial statements to which the measure relates, nor are reconciliations available. The core earnings to shareholders can be reconciled to net income to shareholders as follows: Net Income and Core Earnings Reconciliation (US$ millions) Sagicor Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders (6.4) (40.2) 0.3 (14.0) Market experience gains and losses 42.2 55.1 50.5 38.4 Changes in actuarial methods and assumptions (1.3) 2.2 (1.3) 6.5 Other (1) 11.5 8.2 26.2 8.0 Core earnings to shareholders 46.0 25.3 75.7 38.9 Sagicor Canada Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders 3.7 20.4 14.6 25.6 Market experience gains and losses 17.9 7.6 31.6 18.4 Changes in actuarial methods and assumptions - - - - Other (1) 3.0 (2.0) 3.0 (1.0) Core earnings to shareholders 24.6 26.0 49.2 43.0 Sagicor Life USA Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders (0.8) (26.9) (0.9) 10.2 Market experience gains and losses 13.5 29.3 19.9 2.4 Changes in actuarial methods and assumptions (1.3) 2.2 (1.3) 2.2 Other (1) 4.9 2.9 4.9 0.3 Core earnings to shareholders 16.3 7.6 22.6 15.1 Sagicor Jamaica Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders 14.6 9.4 27.1 12.6 Market experience gains and losses 1.0 (0.7) (10.2) 1.7 Changes in actuarial methods and assumptions - - - 4.3 Other (1) (1.0) 0.8 7.2 (1.0) Core earnings to shareholders 14.6 9.5 24.1 17.6 Sagicor Life Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders 20.5 2.2 28.2 12.0 Market experience gains and losses (5.8) 13.6 (3.1) 10.3 Changes in actuarial methods and assumptions - - - - Other (1) 0.8 (7.6) 1.2 (8.8) Core earnings to shareholders 15.5 8.2 26.3 13.5 Head Office (2) Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income to shareholders (44.4) (45.3) (68.7) (74.4) Market experience gains and losses 15.6 5.2 12.3 5.6 Changes in actuarial methods and assumptions - - - - Other (1) 3.8 14.2 10.0 18.5 Core earnings to shareholders (25.0) (26.0) (46.5) (50.3) ___________________________ 1 Other includes acquisition, integration, and restructuring, intangible asset amortization and impairment, loan financing transaction cost and fees, (loss) / gain on divestiture, tax-related items and other. 2 Head office includes parent company financing costs, administrative expenses, and its investment interest in Playa Hotels and Resorts. It also includes other operating companies not directly attributable to the business segments and consolidation adjustments. SOURCE Sagicor Financial Company Ltd.
