CALGARY, ALBERTA–(Marketwired – Feb. 24, 2015) – Quebec is re-establishing itself as one of Canada’s – and one of the world’s – most attractive jurisdictions for mining investment, according to an annual global survey of mining executives released today by the Fraser Institute, an independent, non-partisan Canadian policy think-tank.
The Fraser Institute Annual Survey of Mining Companies, 2014, rates 122 jurisdictions around the world based on their geologic attractiveness and the extent to which government policies encourage exploration and investment. In this year’s survey, Quebec jumps up six spots and now ranks as the number three jurisdiction for mining investment in Canada and sixth worldwide.
“Quebec was atop the national and international rankings from 2007 to 2010 but tumbled down the list in recent years as a result of increased red tape, royalty hikes and uncertainty around new regulations,” said Kenneth Green, Fraser Institute senior director of energy and natural resources.
“The confidence mining executives now have in Quebec is due in part to the province’s proactive approach to mining policy and its Plan Nord strategy to encourage investment and mineral exploration in northern Quebec.”
Finland finished first overall in the global rankings while five Canadian jurisdictions finished in the top 10: Saskatchewan (2), Manitoba (4), Quebec (6), Newfoundland and Labrador (8) and Yukon (9).
Two of Canada’s larger jurisdictions – Ontario and British Columbia – didn’t fare as well.
Internationally, Ontario now places 23rd and B.C. ranks 28th each disadvantaged by an uncertainty concerning disputed land claims.
“The uncertainty surrounding First Nations consultation and disputed land claims in Ontario and BC is a stark lesson for Quebec. Above all, mining investment is attracted when a jurisdiction can provide a clear and transparent regulatory environment,” Green said.
The survey was conducted between August 26 and November 15, 2014 and includes the responses of 485 mineral exploration and development company executives from around the world. Exploration budgets reported by companies participating in the survey totalled US$2.7 billion in 2014 and US$3.2 billion in 2013.
The complete survey is available as free PDF download at www.fraserinstitute.org.
Newfoundland and Labrador
Worldwide rankings (Top 10):
Newfoundland and Labrador
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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of 86 think-tanks. Its mission is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org
Dr. Kenneth P. Green
Senior Director, Energy and Natural Resources,
(403) 216-7175 ext. 426 or Mobile: 403-620-0703
[email protected] or @KennethPGreen
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