The government has blocked the project last year citing a lack of social acceptability of a certain group.
The latest lawsuit is in response to wrongful actions of the Minister of Sustainable Development, Environment and the Fight against Climate Change.
The company said: "Strateco invested an average of $20 million per year in the Matoush project from 2006 to 2012 taking for granted that the Government would comply with its own laws."
Under its laws, regulations and guidelines, the government granted some 30 permits to Strateco considering that the activities were linked to uranium exploration and a planned uranium mining operation.
Uranium exploration and mining was suspended in March 2013 by the then government, pending an environmental review.
In November, the environment minister refused to grant the certificate of authorization to Strateco, to start advanced exploration on the project.
The company said it has received approvals from the Canadian Nuclear Safety Commission, the federal Minister of the Environment and the federal administrator of the James Bay and Northern Quebec Agreement for underground exploration.
"Strateco was placed in a situation where it was no longer realistically able to interest investors in the Matoush project, was obliged to close the Matoush camp and cause permanent job losses," the company said.
