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Saskatchewan is No. 2 globally for mining investment

And tops in Canada as most attractive jurisdiction. Ontario, BC slipping in rankings.


Exploration budgets reported by companies participating in the survey were US$2.7 billion in 2014.

Exploration budgets reported by companies participating in the survey were US$2.7 billion in 2014.

CALGARY — Saskatchewan is the most attractive jurisdiction for mining investment in Canada, according to an annual global survey of mining executives by the Fraser Institute.

The Canadian policy think-tank’s 2014 survey rates 122 global jurisdictions based on their geologic attractiveness and to what extent government policies encourage exploration and investment.

Saskatchewan ranks as the top jurisdiction in Canada and finishes second worldwide behind Finland.

“In addition to being blessed with an abundance of mineral potential, Saskatchewan gets credit for having a government with a transparent and productive approach to mining policy,” said Kenneth Green, Fraser Institute senior director of energy and natural resources and director of the Survey of Mining Companies.

“The province offers a competitive taxation regime, good scientific support, efficient permitting procedures and clarity around land claims. That’s what miners look for,” said Kenneth Green, Fraser Institute’s senior director of energy and natural resources, and the director of the Survey of Mining Companies.

Four other provinces finished in the global top 10: Manitoba (4), Quebec (6), Newfoundland and Labrador (8) and Yukon (9).

The survey results suggest Quebec’s reputation for mining investment has rebounded after a three-year period of increased red tape, higher royalties and regulatory uncertainty.

Ontario (23, down nine spots) and BC (28, down 12 spots) didn’t fare as well.

Green said in Ontario, the New Mining Act amendments regarding First Nations consultation have resulted in “complete incomprehensibility of rights on all sides.” And in BC, “uncertainty concerning disputed land claims and ambiguity about what regions will be protected are deterrents to investment and exploration.”

The survey was conducted between August 26 and November 15, 2014 and includes the responses of 485 mineral exploration and development company executives from around the world.

Exploration budgets reported by companies participating in the survey were US$2.7 billion in 2014 and US$3.2 billion in 2013.

Canadian rankings:
Saskatchewan
Manitoba
Quebec
Newfoundland and Labrador
Yukon
Northwest Territories
New Brunswick
Alberta
Ontario
British Columbia
Nunavut
Nova Scotia

Worldwide rankings (Top 10):
Finland
Saskatchewan
Nevada
Manitoba
Western Australia
Quebec
Wyoming
Newfoundland and Labrador
Yukon
Alaska

Click here to access the survey results.

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