01 Mar Canadian provinces among top two global destinations for mining investment
New research from the Fraser Institute has revealed that Saskatchewan and Manitoba are the world’s top two destinations for attractiveness of mining investment.
The Canadian provinces overtake the traditional mining haven of Western Australia in the latest standings and are joined by Quebec, which has been ranked sixth on the list of top global mining destinations.
Factors accounting for Saskatchewan’s position as a leading destination for investment include its richness of mineral reserves, competitive tax regimes and efficient permitting procedures, according to Kenneth Green, senior director of the Fraser Institute’s energy and natural resource studies.
Nevada, Finland, Arizona, Sweden, Ireland and Queensland made up the rest of the top 10 areas for mining investment.
Among the worst regions for mining investment, various areas in Argentina including Jujuy and Neuquen were ranked lower than war-torn areas in Venezuela and Afghanistan, due to high levels of government interventionism in the South American state.