Annual survey – 2019 infographic Credit: Fraser Institute
CALGARY – For the first time in a decade, there are no Canadian jurisdictions in the Fraser Institute’s top 10 investment destinations based on the 2019 annual survey of mining and exploration companies.
Saskatchewan continues to be the most attractive Canadian investment jurisdiction, coming in at number 11, followed by Ontario, Quebec and B.C. ranked 16, 18 and 19 respectively. The institute’s top ranked jurisdictions overall are Western Australia, followed by Finland and Nevada.
Based on the overall rank of Canadian jurisdictions on the investment attractiveness index, Canada is the third top region for mining investment, with Europe and Australia holding the first and second spots respectively.
The investment attractiveness index considers both geologic attractiveness and policy perception with respondents indicating that approximately 40% of their investment decision is determined by policy factors.
“The mining survey is the most comprehensive report on government policies that either attract or discourage mining investors,” Ashley Stedman, senior policy analyst at the Fraser institute, said in a release. “A sound regulatory regime coupled with competitive taxes are key to making a jurisdiction attractive to investors.”
Solely on the policy perception front, Alberta ranks sixth, Newfoundland and Labrador come in eighth and Saskatchewan holds the ninth spot. When compared with the 2018 policy rankings, Saskatchewan dropped from the top spot and Quebec fell from its tenth spot down to number 21. Finland, Ireland and Nevada hold the top three spots; these were in the top four in 2018.
The 2019 survey is based on 263 responses and evaluates 76 jurisdictions.
A theme of Canada’s declining attractiveness as a mining investment jurisdiction also emerged in the annual report released by the Mining Association of Canada earlier this month with qualitative data suggesting a growing regulatory burden.
For more details, visit www.FraserInstitute.org/Studies/Annual-Survey-of-Mining-Companies-2019.