Once home to four of the top 10 most attractive places for mining investment, Canadian provinces and territories have plummeted in the Fraser Institute’s annual survey of mining companies.
“We do this survey every year, but for the first time in a decade, no Canadian province or jurisdiction ranked in the global top 10,” said Ashley Stedman, a senior policy analyst with the institute.
The survey asks mining executives to offer their perception of how public policy — on taxation, the environment, and labour, among other issues — affects the industry in more than 80 active mining regions worldwide.
Those responses were combined with a region’s overall geological potential to form a score on the institute’s investment attractiveness index out of 100. In 2018’s survey, Saskatchewan, Quebec, Yukon, and the Northwest Territories broke the top 10, and all Canadian regions except for Nova Scotia, Alberta and New Brunswick broke the top 20.
Saskatchewan claimed the top spot in the world for its mining-related policy. But in 2019, every Canadian jurisdiction but Alberta, Nova Scotia, and Ontario, dropped down the list. And in the North, where mining is the main driver of the economy, all three territories dropped more than 10 places.
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