REGINA – Alberta and Saskatchewan are among the three most attractive jurisdictions in the world for mineral exploration and development, according to the Fraser Institute’s annual survey of mining executives.
"Alberta’s resource-friendly government, competitive taxation regime, and superior infrastructure render the province a standout for mining investment, not only in Canada but also globally," said Fred McMahon, the institute’s vice-president of international policy research. "There’s minimal uncertainty around mining in Alberta."
Nevada and Saskatchewan surpassed Quebec – ranked No. 1 in the global survey for three years running – which fell to fourth overall. Respondents lauded Saskatchewan for its clear regulatory policies and efficient conflict-resolution system.
"Quebec damaged its reputation when the government proposed tax increases last spring and tabled a bill amending the provincial mining act in December 2009. These variables rocked miners’ confidence in the province and we see the result with the drop in rankings," McMahon said.
The Fraser Institute’s survey of mining companies is based on the opinions of mining executives representing 494 mineral exploration and development companies on the investment climate of 79 jurisdictions around the world.
The companies participating in the survey reported exploration spending of $2.43 billion US in 2010 and $1.86 billion US in 2009.
This year, Canadian provinces claimed four of the top 10 spots, with Alberta jumping to first from fourth, Saskatchewan climbing to third from sixth, Quebec falling to fourth from first, and Manitoba holding steady at ninth.
The other provinces and territories generally fared well, with Newfoundland and Labrador placing 13th, the Yukon 15th, Ontario 18th, Nova Scotia 19th, New Brunswick 23rd, British Columbia 36th, Nunavut 44th, and Northwest Territories 52nd.
"B.C. continues to be viewed poorly, with respondents citing land claims issues, environmental uncertainty, and political turmoil at the provincial level as reasons to remain hesitant about investing in British Columbia," McMahon said.
Overall, the top 10 jurisdictions are Alberta, Nevada, Saskatchewan, Quebec, Finland, Utah, Sweden, Chile, Manitoba, and Wyoming. Seven of the same jurisdictions ranked among the top 10 last year; the three exceptions are Utah, which rose to sixth place from 15th; Sweden, which climbed to seventh from 12th; and Wyoming, which jumped to 10th from 13th. Chile is the only jurisdiction outside of North America that consistently ranks among the top 10.
The bottom 10 scores went to Indonesia, Zimbabwe, Wisconsin, Madagascar, India, Guatemala, Bolivia, Democratic Republic of Congo, Venezuela, and Honduras.
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