Saskatchewan Named Top Jurisdiction in the World for Mining Investment
An annual international survey of mining company executives has named Saskatchewan as the most attractive jurisdiction in the world for mining investment.
The Fraser Institute Annual Survey of Mining Companies, 2016 ranked Saskatchewan number one out of 104 jurisdictions in their Investment Attraction Index, up from second place in 2015. Competitive tax regimes, efficient permitting procedures and certainty surrounding environmental regulations and land-claims were among the reasons for the province’s top rating.
“Saskatchewan enjoys an excellent reputation in the mining sector,” Energy and Resources Minister Dustin Duncan said. “We are gifted with a variety of resources, and as a government we are doing our share to encourage the industry and to make sure we are competitive and friendly to investment. We have maintained a stable royalty structure over the last number of years, supported by clear government policies that have helped Saskatchewan remain a destination of choice for investors and business.”
The Fraser Institute’s Investment Attractiveness Index is based on two components: the geologic attractiveness of a region based on actual mineral potential, and its policy attractiveness in terms of the effects of government policy on attitudes toward exploration investment.
“Aside from having high-quality geoscience information, we place a high priority on collaboration with our stakeholders in the industry to help reduce red tape wherever possible,” Duncan said. “We are also continuing to upgrade and enhance the Mineral Administration Registry Saskatchewan (MARS) system to help mining companies operate more efficiently in the province.”
Manitoba ranked second in the Fraser Institute survey, followed by West Australia which fell from first to third. The remainder of the top 10, in descending order, includes Nevada, Finland, Quebec, Arizona, Sweden, the Republic of Ireland, and Queensland. Other Canadian jurisdictions placing in the 2016 global rankings were Yukon in 15th, Ontario in 18th and B.C. in 27th.