Fraser Institute News Release: Saskatchewan 3rd most attractive jurisdiction worldwide for mining investment; Newfoundland & Labrador, Ontario, Manitoba, and Quebec also in global top 10
May 14 2024 - 5:00AM
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.
Utah is the top-ranked jurisdiction worldwide for mining
investment in this year’s survey, followed by Nevada.
“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 86 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 (and in third
overall for the second year in a row), followed by Quebec at fifth,
Manitoba sixth, Newfoundland & Labrador at ninth and Ontario in
tenth.
However, some Canadian jurisdictions are not capitalizing on
their strong mineral potential due to a lack of a solid policy
environment that would attract investment. For instance, Yukon and
the Northwest Territories, despite being among the top ten most
attractive jurisdictions for mineral endowment, rank 28th and 45th,
respectively, when considering policy factors alone.
In addition, British Columbia continues to perform poorly on the
policy front largely due to investor concerns over disputed land
claims and protected areas.
Overall, we see that uncertainty surrounding protected areas,
land claims disputes and environmental regulations continue to
hinder mining investment in various Canadian
jurisdictions.
“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 86
worldwide)
|
Province/Territory |
Rank |
Province/Territory |
Rank |
|
|
Saskatchewan |
3 |
New Brunswick* |
23 |
|
|
Quebec |
5 |
Northwest Territories |
24 |
|
|
Manitoba |
6 |
British Columbia |
25 |
|
|
Newfoundland and Labrador |
9 |
Alberta |
36 |
|
|
Ontario |
10 |
Nunavut |
39 |
|
|
Yukon |
16 |
Nova Scotia |
75 |
|
MEDIA CONTACTS:Elmira Aliakbari, Director,
Centre for Natural Resource StudiesFraser Institute
To arrange media interviews or for more information, please
contact:Drue MacPherson, Fraser Institute604-688-0221 ext.
721drue.macpherson@fraserinstitute.org
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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
think-tanks in 87 countries. Its mission is to improve the quality
of life for Canadians, their families and future generations by
studying, measuring and broadly communicating the effects of
government policies, entrepreneurship and choice on their
well-being. To protect the Institute’s independence, it does not
accept grants from governments or contracts for research. Visit
www.fraserinstitute.org