Saskatchewan best place to mine in Canada

Rabbit Lake operation located in Saskatchewan, Canada. It’s the longest operating uranium production facility in North America, and the second largest uranium mill in the world. (Image courtesy of Cameco)

The Fraser Institute has released its annual ranking of the best jurisdictions for mineral investment. Four of the top 10 places are Canadian provinces, with Saskatchewan in the lead with the No.3 spot.

The institute released its Annual Survey of Mining Companies on Feb. 28, the 21st time it has compiled the rankings. Mining executives in 83 jurisdictions around the world weighed in on geological attractiveness and the extent to which government policies encourage or deter mining investment.

The best places in Canada are Saskatchewan (No.3), Quebec (No.4), Yukon (No.9) and the Northwest Territories (No.10). That is a nice showing when you consider the global nature of the survey.

Ontario, which was No.7 last year, has fallen all the way to No.20 on this year’s list. Investors cited regulatory uncertainty, disputed land claims, and waning mineral potential for their ranking.

Other Canadian provinces and territories ranked thus: Newfoundland and Labrador (No.11), Manitoba (No. 12), Nunavut (No.15), British Columbia (No.18), New Brunswick (No.30), Alberta (No.51), and nova Scotia (No.57).

Good news for Canada as a country. Based on the combined rankings of all provinces and territories, Canada is the No.1 country in the world for mineral investment.

This article first appeared in The Canadian Mining Journal.

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