VANCOUVER, British Columbia, May 14, 2024 (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.
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 Studies
Fraser Institute
To arrange media interviews or for more information, please contact:
Drue MacPherson, Fraser Institute
604-688-0221 ext. 721
drue.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
