Saskatchewan tops the list as the most attractive jurisdiction for mining investment in Canada, according to the annual global rankings released by the Fraser Institute.
The Calgary-based public policy think-tank surveys mining executives in rating 109 jurisdictions around the world based on a combination of geology and policy attractiveness.
Saskatchewan ranked first as the top Canadian jurisdiction for the second consecutive year and finished second globally behind Western Australia.
Internationally, Ontario placed 15th, rising eight spots from last year, and B.C. finished 18th, up 10 spots.
"While Saskatchewan is blessed with potash and uranium reserves, miners also appreciate its approach to mining policy,” said Kenneth Green, Fraser Institute’s survey director. “Compared to other jurisdictions, the province is perceived to have a competitive tax regime, efficient permitting procedures and clarity around land claims."
The full report contained submitted comments from mining executives on doing business in each jurisdiction. Two undisclosed exploration company presidents complained about the Ontario government’s inertia in moving projects forward.
In one comment: “A company was attempting to permit an advanced exploration project in the James Bay lowlands. The government took three years to grant the required permits. During this time the funding partner, frustrated with the time taken by the government, exited the project.”
Another said: “Government management of the Ring of Fire was a disaster. It has been 12 years since the original discovery and no sign as to when a development might occur.”
The Canadian rankings are as follows:
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
