Ontario plummets in annual ranking of mining investment attractiveness

By Fraser Institute —— Bio and Archives February 28, 2019

Comments | Print This | Subscribe | Email Us

CALGARY—Saskatchewan is the world’s third most attractive jurisdiction for mining investment, while Ontario fades in the eyes of mining investors amid increased regulatory uncertainty and concerns about disputed land claims, finds the latest Annual Survey of Mining Companies released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “The mining survey—now in its 21st year—is the most comprehensive report card on government policy decisions that either attract or scare away mining investors from around the world,” said Kenneth Green, resident scholar and chair of the Fraser Institute’s energy and environmental studies and co-author of the report.

This year’s survey of mining executives ranks 83 jurisdictions around the world based on their geologic attractiveness for minerals and metals and the extent that government policies encourage or deter exploration and investment. Saskatchewan (3rd), Quebec (4th), Yukon (9th) and the Northwest Territories (10th) are among the top 10 most attractive jurisdictions worldwide for mining investment. On the issue of policy attractiveness alone, Saskatchewan is the top ranked jurisdiction globally. Crucially, however, Ontario dropped from 7th last year to 20th this year, with investors giving the province low marks for regulatory uncertainty and concerns about disputed land claims. Investors also perceived Ontario’s mineral potential as less attractive this year. All three of Canada’s territories improved their rank this year, as investors eye the north’s mineral potential more favourably. The Northwest Territories improved from 21st last year in overall attractiveness to 10th this year, Yukon rose from 13th to 9th, and Nunavut improved its rank from 26th to 15th. Nationally, Canada—based on the combined rankings of all provinces and territories—is the world’s most attractive region for investment, beating out Australia for the top spot. “The evidence is clear—mineral deposits alone are not enough to attract precious commodity investment dollars,” said Ashley Stedman, a senior policy analyst at the Fraser Institute and study co-author. “A sound regulatory regime coupled with competitive fiscal policies is key to making a jurisdiction attractive in the eyes of mining investors.” Media Contact: Ken Green, Resident Scholar and Chair, energy and environmental studies, Fraser Institute Ashley Stedman, Senior Policy Analyst, Fraser Institute To arrange media interviews or for more information, please contact: Bryn Weese, Senior Media Relations Specialist, Fraser Institute bryn.weese@fraserinstitute.org