The Blackwater Mine is a major open-pit gold and silver mining project under construction in central British Columbia. B.C. moved up the rankings of a mining report to 12th from 25th spot last year but still has \u201csignificant room for improvement.\u201d (Credit: Handout) <\/p>\n
Saskatchewan<\/a> and Newfoundland and Labrador<\/a> are among the top 10 jurisdictions in the world for mining investments, according to an annual report released Tuesday by a Canadian think tank.<\/p>\n Finland ranks as the most attractive jurisdiction for mining investment, followed by four states in the United States, according to the Vancouver-based Fraser Institute\u2019s Annual Survey of Mining Companies.<\/p>\n \u201cOverall, we see there\u2019s significant room for improvement in the policy environment (in Canada),\u201d said Elmira Aliakbari, director of natural resource studies at the Fraser Institute and one of the report\u2019s authors.<\/p>\n About 350 mining professionals responded to the survey, which was conducted between August and December last year, and they were asked various questions about taxation regimes, environmental protections, labour availability and other topics.<\/p>\n About 40 per cent of the respondents worked for exploration companies, 32 per cent for mining companies and the remainder identified as consultants or as other.<\/p>\n Last year, four Canadian provinces ranked amongst the world\u2019s top 10 jurisdictions, compared to only two this year: Saskatchewan was seventh and Newfoundland and Labrador was eighth.<\/p>\n Aliakbari said the decline is mainly due to policy uncertainty, particularly around environmental protections and disputed land claims with indigenous groups.<\/p>\n For example, Saskatchewan dropped to seventh on the overall \u201cInvestment Attractiveness Index\u201d after ranking third in 2024 and second in 2023. The report said \u201crespondents expressed increased concerns over the province\u2019s taxation regime, regulatory duplication and inconsistencies, and uncertainty concerning environmental regulations.<\/p>\n Ontario<\/a> dropped in the rankings for the second year in a row, to 15th from 10th last year, because of increased concerns about its taxation regime, labour regulations and political stability.<\/p>\n Quebec<\/a> had an even bigger drop, to 22 from fifth last year, because of increased concerns over taxation, regulatory duplication and its legal system.<\/p>\n