23 Feb Canada crowned world’s most attractive destination for mining investment
Canada has been ranked the world’s most attractive region for mining investment in the latest annual mining survey conducted by the Fraser Institute.
The North American country leapfrogged Australia to become the world’s leading mining investment destination, based on the combined rankings of all its provinces and territories.
This is despite the fact that many Canadian provinces performed poorly, including revered mining jurisdiction Saskatchewan, which relinquished its position at the top of the regional mining investment table, falling behind Finland.
Manitoba, ranked 2nd in last years survey, disappeared from the top 10 completely, while British Columbia and Alberta received low scores from investors based on regulatory uncertainty and concerns about disputed land claims.
The survey ranked Nevada, Ireland and Western Australia in the top five regions for attractiveness of mining investment. Quebec, Ontario, Chile, Arizona and Alaska completed the list of highest ranking jurisdictions.
Meanwhile, the survey indicated that Guatemala and Kenya were the least attractive destinations for mining investment and Argentinian provinces Chubut and Mendoza appeared once again near the foot of the rankings.
“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,” said 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.”