Accumulation at the point of extraction: understanding contemporary capitalist dynamics in large-scale extraction illustrated by iron ore mining in Northern Quebec

Abstract

This paper examines how the latest iron ore mining cycle evolved and impacted Quebec’s mining industry and communities. Our research aims to explain how globally integrated mining corporations take advantage of and generate disruptive boom and bust dynamics, leading to specific forms of restructuring at the local level. Our main argument is that overcapacity and overproduction can enhance capital accumulation rather than undermine it, given the monopolistic nature of the contemporary mining sector.