Saskatchewan, Quebec top Canadian jurisdictions for mining investment—Canada slips in global rank

Raw Coal — Photo Courtesy of Fraser Institute press release

Saskatchewan remains the most attractive jurisdiction for mining investment in Canada, according to the annual global survey of mining executives released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

The Fraser Institute Survey of Mining Companies, 2015, rates 109 jurisdictions around the world based on a combination of their geologic attractiveness for minerals and metals and their policy attractiveness. For the second consecutive year, Saskatchewan ranks as the top jurisdiction in Canada and finishes second worldwide behind Western Australia.

“While Saskatchewan is blessed with potash and uranium reserves, miners also appreciate it’s 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 Kenneth Green, Fraser Institute senior director of energy and natural resources and director of the Survey of Mining Companies. Quebec ranks second in Canada and is the only other Canadian jurisdiction in the top 10 worldwide for overall investment attractiveness. Yukon ranks 12th worldwide. Two of Canada’s other large jurisdictions—British Columbia and Ontario—improved in this year’s rankings. Internationally, Ontario places 15th (rising eight spots from last year) and B.C. ranks 18th, rising 10 spots.

“While B.C. 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,” said Taylor Jackson, Fraser Institute policy analyst. 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’s more of a function of Australia improving faster than Canada.

“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 said.

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

13. Western Australia

14. Saskatchewan

15. Nevada

16. Ireland

17. Finland

18. Alaska

19. Northern Territory

20. Quebec

21. Utah

22. South Australia