VANCOUVER, British Columbia, May 04, 2023 (GLOBE NEWSWIRE) — Saskatchewan remains Canada’s top-rated jurisdiction for mining investment, according to the Annual Survey of Mining Companies released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
Nevada is the top-ranked jurisdiction worldwide for mining investment in this year’s survey, followed by Western Australia.
“The Fraser Institute’s mining survey is the most comprehensive report on government policies that either encourages or discourages mining investment, and Saskatchewan remains not only the top choice in Canada, but third overall globally,” said Elmira Aliakbari, director of the Fraser Institute’s Centre for Natural Resource Studies and co-author of the study.
This year’s report ranks 62 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or discourage exploration and investment, including permit times.
On overall investment attractiveness, Saskatchewan ranks in the global top three for the fifth time in six years (having dropped from second in last year’s survey to third this year), followed by Newfoundland & Labrador at fourth and Quebec at eighth.
However, some provinces and territories are not capitalizing on their strong mineral potential due to a lack of a solid policy environment that would attract investment. Ontario and Manitoba, despite being among the top ten most attractive jurisdictions for mineral potential, rank 18th and 24th respectively when considering policy factors alone. Similarly, Yukon ranks 10th for its mineral potential but 31st on policy factors.
In addition, British Columbia continues to perform poorly on the policy front largely due to investor concerns over disputed land claims and protected areas.
“A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors,” said Aliakbari.
“Policymakers in every province and territory should understand that mineral deposits alone are not enough to attract investment.”
Overall Investment Attractiveness for Canadian Provinces and Territories
(out of 62 worldwide)
Newfoundland and Labrador 4
British Columbia 15
New Brunswick 21
Nova Scotia 42
Northwest Territories 43
Elmira Aliakbari, Director, Centre for Natural Resource Studies
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Bryn Weese, Fraser Institute
604-688-0221 ext. 589