The CMEB receives many requests for funding from the entrepreneurial sector. Priority for funding goes to Cree entrepreneurs and Cree prospectors. The CMEB also encourages and facilitates joint ventures project with Cree partners.
To apply for funding, prospectors have to:
- belong to the Quebec Prospectors Association
- complete training program in prospecting
- submit a proposal for a feasible prospecting project
Experience in the field is a key asset; prospectors with experience and duly completed proposals submitted on time receive serious consideration for funding.
Funding Agreements and CMEB Royalties
During each financial year, the CMEB executes funding agreements with mining exploration companies, individual prospectors, and the communities. These agreements provide funding for mining exploration activities for a total amount of $300,000 in direct funding. Some of these agreements provide that the CMEB funds 50% of the admissible costs related to mining exploration. As a result, over $ 300,000 can be spent on mining exploration activities carried out in Eeyou Istchee.
Native mining companies pay a royalty of 1% to the CMEB if the exploration project results in the commercial exploitation of an ore deposit.