Canada's phosphate production hopeful received a tidal wave of support from the Quebec government. On Monday, the province's premier, Phillippe Couillard, announced a $2-million investment into Arianne's Lac à Paul project, located 200 kilometers north of Saguenay. The investment, which is being made by Investissement Quebec, is part of the $8-million financing the company announced at the end of July. The $1.2-billion Lac à Paul phosphate project has an indicated mineral reserve of 500 million tonnes of high-grade phosphate. With an annual capacity of 3 million tonnes and a mine life of 25 years, the project fits into Quebec's Plan Nord program with the expectation that it will create some 2,200 construction jobs and 1,000 direct and indirect jobs. Through its investment in the project, the Quebec government hopes to demonstrate its commitment to Lac à Paul's economic potential, as well as send a clear signal for other entrepreneurs to also take part. At a press conference on the subject, Couillard noted that beyond the $2 million invested, the government wants to stand by the company in an attempt to boost market confidence. Indeed, as Pierre Fitzgibbon, chairman of Arianne, noted in the company's press release earlier on Monday, Lac à Paul "is a world class project with enormous benefits to all involved. By making this investment, the Government of Quebec is helping to pave the way forward for this important project. This concrete show of support will allow the strengthening of the region's economy, pioneer a new long lasting industry for Quebec and, of course, provides the province the economic benefit of being a shareholder in this $1.9B [NPV] asset. The jobs and benefits to the community are that much closer."