Saskatchewan remains high on Fraser Institute list of best places to mine
Saskatchewan ranks second worldwide for best places to invest in mining
Saskatchewan continues to hold a top spot as one of the most attractive areas for mining investment in the world.
For the second year in a row, the Fraser Institute placed Saskatchewan high on the list among 109 jurisdictions in the world, with the province finishing second only to Western Australia. In 2014 Western Australia ranked fourth globally.
The rankings are based on geological attractiveness for minerals and metals.
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"While Saskatchewan is blessed with potash and uranium reserves, miners also appreciate its approach to mining policy," said Kenneth Green, senior director of energy and natural resources and director of the Survey of Mining companies, in a news release.
"Compared to other jurisdictions, the province is perceived to have a competitive tax regime, efficient permitting procedures and clarity around land claims."
Quebec, Ontario, B.C. creep up the list
Quebec ranks second in Canada and is the only Canadian province joining Saskatchewan in the top 10 overall. Yukon ranks 12th worldwide while Ontario and British Columbia placed 15th and 18th respectively, which Green said reflects the transparent Canadian mining policies.
"Many of the Canadian provinces continue to rank highly… but if Canada strays from such policies we could see mining investment go elsewhere — even with slumping commodity prices, global competition is fierce," Green said.
Investment attractiveness is compiled from looking at a region's geological makeup, and the Policy Perception Index (PPI), which looks at the jurisdictions' mining regulations, taxation levels, labour regulations and labour availability.
About 3,800 development and mining-related companies around the world participated in the annual survey.
Canadian investment attractiveness rankings:
5. British Columbia
8. Newfoundland and Labrador
10. Northwest Territories
11. New Brunswick
12. Nova Scotia
Top 10 worldwide:
1. Western Australia
7. Northern Territory
10. South Australia