Fraser survey ranks Ontario 20th globally as favourable mining jurisdiction

Ontario made few strides toward reaching elite status in the Fraser Institute's Survey of Mining Companies.

The British Columbia public policy think-tank released a mid-year update in August, in which Ontario moved up one spot to 20^th place.

Alberta is viewed as the world's most attractive jurisdiction for mineral exploration and development. Quebec held the top spot for three consecutive years as the best place in the world for mining investment. However, an increase in mining taxes and upcoming changes in that province's Mining Act appears to have shaken the confidence of companies, said Fred McMahon, the institute's vice-president of international policy research.

The survey is based on the opinions of mining executives from 429 mining companies operating in 51 countries, states and provinces around the world.

Australia's investment attractiveness took a big hit with that government's plans to impose a Resources Super Profits Tax on the mining industry. The tax was cancelled but miners will still face significant tax increases. Australia's Northern Territory dropped from 14^th to 30^th and Western Australia fell to 28^th from 19^th.

Overall, the top 10 jurisdictions in the world are Alberta, Finland, Quebec, Yukon, Saskatchewan, Chile, Newfoundland and Labrador, Botswana, Alaska and Nevada.