First time in past ten years no province has cracked the top ten on the investment rankings in Fraser Institutes’ survey of mining execs
Global commodity investors are taking note as Canada grapples with cancelled projects and entrenched opposition to the development of its resources.
This was evident in the annual survey of mining executives by the Fraser Institute that shows Canadian provinces are no longer considered among the top ten places in the world to invest for mining. Last year’s survey had four provinces in the top 10.
Saskatchewan was the highest ranked province at 11th, down from 3rd last year, followed by Ontario at 16th, Quebec at 18th and British Columbia at 19th, according to the survey released on Tuesday. This is the first time in the past ten years that no province has cracked the top ten on the investment rankings.
The top three most attractive global mining jurisdictions for investment this year were Western Australia, Finland and Nevada. Alaska, Portugal, Idaho, South Australia, Republic of Ireland, Arizona, and Sweden completed the top 10 list.
Canada has had trouble over the past few years in attracting investment in resource projects, with a few liquefied natural gas projects cancelled by proponents in British Columbia, and most mining and energy companies complaining of onerous regulations.