Newfoundland and Labrador ranks ninth worldwide in the most attractive jurisdictions for investment in mining, according to an annual global survey of mining executives released Monday by the Fraser Institute.
Other Canadian jurisdictions that made the survey include: Alberta (3), New Brunswick (7), Saskatchewan (12), Yukon (19), Quebec (21), Manitoba (26), Ontario (28), Nova Scotia (29), British Columbia (32), Nunavut (44) and the Northwest Territories (47).
A news release notes that, for the second consecutive year, Alberta ranked first in Canada and third worldwide in the survey.
The survey is based on input from 690 mineral exploration and development company executives. This year’s survey spotlighted 112 jurisdictions worldwide.
“Miners praise Alberta for its transparent and productive approach to mining policy. The province offers competitive taxation regimes, sound legal systems, and relatively low uncertainty around land claims. That’s what miners look for,” said Kenneth Green, Fraser Institute senior director of energy and natural resources and director of the Survey of Mining Companies 2013.
The Top 10 most attractive jurisdictions for investment worldwide include (from the top) Sweden, Finland, Alberta, Ireland, Wyoming, Western Australia, New Brunswick, Nevada, Newfoundland and Labrador, and Norway.
The 10 least attractive jurisdictions for investment worldwide (from the bottom) are Kyrgyzstan, Venezuela, Philippines, Argentina — La Rioja, Angola, Argentina — Mendoza, Zimbabwe, Ivory Coast, Indonesia and Madagascar.
The exploration budgets reported by companies participating in the survey totalled US$4.6 billion in 2012 and US$3.4 billion in 2013.