Photo by: Reuters
TORONTO (miningweekly.com) – Saskatchewan remains the most attractive jurisdiction for mining investment in Canada, according to the yearly global survey of mining executives released on Thursday by the Fraser Institute, an independent, non-partisan Canadian public policy think tank.
The 2015 Fraser Institute Survey of Mining Companies rated 109 jurisdictions worldwide based on a combination of their geologic attractiveness for minerals and metals and their policy attractiveness and, for the second consecutive year, Saskatchewan ranked as the top jurisdiction in Canada and finished second globally behind Western Australia.
"While Saskatchewan is blessed with potash and uranium reserves, miners also appreciate its approach to mining policy. Compared to other jurisdictions, the province is perceived to have a competitive tax regime, efficient permitting procedures and clarity around land claims," said senior director of energy and natural resources and director of the survey of mining companies Kenneth Green.
According to the Fraser Institute, Quebec ranked second in Canada and was the only other Canadian jurisdiction in the top ten worldwide for overall investment attractiveness. The Yukon Territory ranked twelfth worldwide.
Two of Canada's other large jurisdictions – British Columbia and Ontario – improved in this year's rankings. Internationally, Ontario placed fifteenth (rising eight spots from last year) and British Columbia ranked eighteenth, rising ten spots.
"While BC enjoyed improved perceptions in a number of areas, uncertainty over disputed land claims continue to hurt the province's reputation and likely stunts some of its mining industry potential," stated Fraser Institute policy analyst Taylor Jackson stated.
Canada's overall investment attractiveness – based on the combined rankings of all Canadian jurisdictions – dropped slightly in 2015. Australia overtook Canada as the number one most attractive region in the world for mining investment, although that was more of a function of Australia improving faster than Canada, the institute advised.
"Many of the Canadian provinces continue to rank highly, buoyed by transparent and certain mining policies, but if Canada strays from such policies we could see mining investment go elsewhere – even with slumping commodity prices, global competition is fierce," Green advised.
Canadian investment attractiveness rankings:
1. Saskatchewan
2. Quebec
3. Yukon
4. Ontario
5. British Columbia
6. Manitoba
7. Nunavut
8. Newfoundland and Labrador
9. Alberta
10. Northwest Territories
11. New Brunswick
12. Nova Scotia
Worldwide investment attractiveness rankings (top ten):
1. Western Australia
2. Saskatchewan
3. Nevada
4. Ireland
5. Finland
6. Alaska
7. Northern Territory
8. Quebec
9. Utah
10. South Australia