Ontario crowned Canada’s top mining destination, second place worldwide

Ontario claims Canada's top position for mining investment, securing 2nd place globally in the Annual Survey of Mining Companies that the Fraser Institute, an independent Canadian public policy think-tank, released recently.

Nevada holds the top-ranked jurisdiction worldwide for mining investment in this year's survey, climbing from 2nd place in 2024, with Ontario following in second place.

"The Fraser Institute's mining survey is the most comprehensive report on not only mineral potential but also government policies that either encourage or discourage mining investment," Elmira Aliakbari, director of the Fraser Institute's Centre for Natural Resource Studies and co-author of the study, stated.

This year's report evaluates 68 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or discourage exploration and investment, including permit times.

Regarding overall investment attractiveness, Saskatchewan (3rd) secures a position in the global top ten for the sixth time in seven years, with Ontario leading in 2nd place globally. When examining policy factors alone, Alberta achieves a spot in the global top three while Ontario claims 5th place, Newfoundland & Labrador takes 7th place, and Saskatchewan holds 8th place globally.

However, some Canadian jurisdictions fail to capitalize on their strong mineral potential due to lacking a solid policy environment that would attract investment. For instance, Yukon and Manitoba--holding 11th and 13th positions for mineral potential--drop to 47th and 39th, respectively, when considering policy factors alone.

Similarly, Nunavut and the Northwest Territories, despite achieving 17th and 19th positions in terms of mineral potential, plummet to 43rd and 54th, respectively, when ranked on policy factors, making them--along with Yukon--the worst-performing Canadian jurisdictions on policy factors.

Additionally, British Columbia continues to underperform on the policy front largely due to investor concerns over disputed land claims and protected areas.

Overall, uncertainty surrounding protected areas, land claims disputes and environmental regulations along with regulatory duplication and inconsistencies continue to obstruct mining investment in various Canadian jurisdictions.

"A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors," Aliakbari said.

She added: "Policymakers in every province and territory should understand that mineral deposits alone are not enough to attract investment."

More information is available at www.FraserInstitute.org