Mining Survey Results

Executives Rate Ontario and Quebec Top Jurisdictions in World

Attractive geology is not enough to guarantee mining investment, according to mining executives surveyed in the fifth Annual Survey of Mining Companies, released in mid-December by The Fraser Institute, a Vancouver-based economic think tank.

In this year’s survey, companies accounting for a combined total of US$782 million in international exploration (in 2000) rated the policy attractiveness and mineral attractiveness of mining jurisdictions in North America and internationally.

“Jurisdictions that have both attractive policy and geology do well on the overall investment attractiveness index,” said survey co-ordinator Laura Jones.

Quebec and Ontario tie for highest rank on the overall investment attractiveness index, each with a score of 90 points out of a possible 100. Quebec’s ranking is a result of the province’s top score on the mineral potential index (100) and high score on the policy potential index (76). Ontario also ranks high on both indices, with a score of 98 on the mineral potential index and a score of 78 on the policy potential index. Australia is the next most attractive jurisdiction with an overall score of 87.

Also placing in the top 10 jurisdictions for overall investment appeal: Chile (86), Brazil (86), Nevada (83), Alaska (80), Peru (73), Mexico (68) and Manitoba (67).

Washington (15), Wisconsin (17), South Dakota (23), Nova Scotia and the Philippines (tied at 25), all rank among the least attractive areas for new mining investment based on their poor ratings in both mineral and policy potential. British Columbia has the lowest rating on the Policy Potential Index (14) for the fifth straight year. Jones stresses that “BC is a prime example of how even resource-rich provinces can deter investors if the policy climate is hostile towards business.”

The full survey can be viewed at www.fraserinstitute.ca.