Saskatchewan has been ranked first in Canada and second in the world for mining investment, according to a global survey of mining executives.
The Fraser Institute’s Annual Survey of Mining Companies rates 122 jurisdictions around the world based on their geological attractiveness, and how governments encourage exploration and investment.
The institute’s senior director of energy and natural resources, Kenneth Green, says co-operation between mining companies and Aboriginal groups can be beneficial to everyone involved.
“Natural resource development can significantly improve economic conditions, can give employment opportunities to economically stressed groups. You know, getting the regulations right to allow that to happen shouldn’t be that difficult, including native land claims and establishing who has the right to what and what the negotiating process is like to bring projects to fruition.”
Green says one area of the country which received low marks in the ranking is BC.
“The uncertainty over land claim issues has moved from being a mild deterrent to being a strong deterrent to a lot of respondents to the survey. The BC court decision (Tsilhqot’in) has thrown a great deal of uncertainty on development in British Columbia for minerals, metals, oil and gas, and just about everything else.”
Ontario also dropped in this year’s annual survey and Green says that province’s new Mining Act has led to confusion on all sides, including First Nations and mining companies.