Canada is the world’s most attractive region for mining investment, based on the combined rankings of all its provinces and territories, the latest annual global survey of mining executives released Thursday by the Fraser Institute shows.
While the Maple Leaf country overtook Australia as regional destination number one, many of its provinces and territories did not fair well this year in the policy think-tank’s annual survey.
Saskatchewan, which together with Manitoba topped last year ranking, fell down to second place in the ranking, leaving old-time favourite Finland leading the list of most attractive jurisdictions, with Nevada in third place.
Manitoba simply disappeared from the top ten, while British Columbia and Alberta continue to receive low marks from investors for regulatory uncertainty and concerns about disputed land claims.
Quebec ranked second in Canada (6th overall), followed by Ontario (7th), which improved its rank from 18th last year.
“Capital is fluid and one province’s loss can be another province’s gain because mining investors will flock to jurisdictions that have attractive policies,” says Kenneth Green, senior director of the Fraser Institute’s energy and natural resource studies.
“Sound regulatory regimes are an absolute must for policymakers who want to attract increasingly precious commodity investments,” he notes.
Overall, investment attractiveness fell slightly around the world.
In Australia, every jurisdiction received lower scores on policy this year, indicating increasingly unattractive government regulations across the country. Western Australia ranked 5th overall, followed by Queensland (12) and South Australia (14).
In South America, Chile (8th) has jumped back into the top 10 having tumbled to 39th last year. And Peru, which ranked 28th last year, also rose to 19th in this year’s survey. Argentina is also much more attractive for mining investment this year, with the country’s overall score increasing by more than 50%.
When considering both policy and mineral potential in the Investment Attractiveness Index, Guatemala ranked as the least attractive jurisdiction in the world for investment, replacing the Argentinian province of Jujuy.
Here’s the complete list: