AME BC Responds to Fraser Institute Annual Survey of Mining Companies
VANCOUVER, BC --(Marketwired - March 01, 2016) - The 2015 Fraser Institute Annual Survey of Mining Companies acknowledges British Columbia's strengths that encourage mineral exploration investment, but it also defines important areas that require more action by government, says the Association for Mineral Exploration British Columbia (AME BC). According to the report released today, the province of British Columbia was ranked 18th out of 109 jurisdictions worldwide and fifth within Canada as an attractive place to invest in mineral exploration and development.
Although B.C. ranks highly in terms of mineral potential, geological database and availability of labour, it ranks poorly in regard to uncertainty concerning environmental regulations, protected areas and disputed land claims. In addition, the province was ranked considerably lower, at 41st out of 109 jurisdictions, and tenth within Canada in the survey's policy perception index. The Fraser Institute received input from 449 managers and executives involved in mineral exploration, development and other related activities into the survey.
"Over the past few years, thanks largely to a few advanced exploration projects, our province has attracted a notably greater share of the total investment in exploration across Canada," says Diane Nicolson, Chair of AME BC. "But with total investment declining in Canada, there is a need for British Columbia to be more competitive on the global stage and attract investment into early-stage grassroots level exploration, as well as into more advanced projects. We need our provincial government to maintain security of mineral tenure, to clarify land use regulations and protect access to mineral lands to support the exploration, discovery and development of the public's mineral resources. Such action is necessary in order to build and grow a modern, diversified and sustainable economy in British Columbia that benefits workers, families and communities throughout the province."
"We acknowledge that the survey is mostly based on perceptions, but it is clear that much more needs to be done to compete successfully for investment and to grow the industry, especially given the fact that Canada's base metal reserves are in decline and fewer discoveries are being made," notes Gavin C. Dirom, President & CEO of AME BC. "British Columbia should be ranked higher in the Fraser Institute survey given its remarkable mineral resources and the strengths of our mineral exploration and development industry. We look forward to working more closely with both the provincial and federal governments to resolve these important issues, improve conditions and build more confidence for the industry."
About AME BC:
AME BC is the lead association for the mineral exploration and development industry based in British Columbia. Established in 1912, AME BC represents, advocates, protects and promotes the interests of thousands of members who are engaged in mineral exploration and development in BC and throughout the world. AME BC encourages a safe, economically strong and environmentally responsible industry by providing clear initiatives, policies, events and tools to support its membership.
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