Mining News

Survey of Mining Companies 2013 results now available

Posted by Alana Wilson on 2/28/2014 3:50:38 PM

By Alana Wilson

The results of the Fraser Institute Survey of Mining Companies 2013 are now available. Sweden, Finland, and Alberta are again the most attractive jurisdictions for mining investment globally. Sweden, which was ranked second in 2013 moved to 1st overall, replacing Finland which ranked 2nd. Alberta was ranked 3rd globally for the third consecutive year and was the top-ranked province in Canada. This year's survey is based on input from 690 mineral exploration and development company executives and spotlights 112 jurisdictions worldwide.

The top 10 most attractive jurisdictions for investment worldwide include (from the top) Sweden, Finland, Alberta, Ireland, Wyoming, Western Australia, New Brunswick, Nevada, Newfoundland & Labrador, and Norway. Three Canadian jurisdictions—Alberta (3), New Brunswick (7), and Newfoundland and Labrador (9)— ranked in the top 10 worldwide, followed by Saskatchewan (12), Yukon (19), Quebec (21), Manitoba (26), Ontario (28), Nova Scotia (29), British Columbia (32), Nunavut (44), and the Northwest Territories (47).

Quebec has again dropped in the global rankings for the fourth consecutive year. From 2007 to 2009, Quebec topped the survey, then dropped to 5th in 2011, 11th in 2012 and finally 21st worldwide in 2013, due in part to proposed amendments to Quebec’s Mining Act and recent tax policy changes.

“These concerns likely reflect the uncertainty over amendments to Quebec’s Mining Act and recent tax policy changes in the province. Reduce red tape, minimize the risk associated with policy changes and tax increases, and respect negotiated contracts—that’s how Quebec can woo the global mining sector,” said Kenneth Green, Fraser Institute senior director of energy and natural resources and director of the Survey of Mining Companies 2013.

B.C. dropped to 32nd from 31st in 2012, although there were 16 fewer jurisdictions spotlighted in last year’s survey. This year’s survey recorded improved perceptions of B.C.’s political stability and availability of labour and skills.

Wyoming was the top-ranked U.S. state, coming in a fifth overall, a position it also held in 2012. Nevada was the second highest U.S. state in eighth spot. Nevada was among the top three in 2010-2011.

Western Australia in sixth spot was the top-ranked Australian state, moving up from 15th in 2012. South Australia finished just outside the top 10 in 11th, a move up from the 20th ranking it held last year.

The 10 least attractive jurisdictions for investment worldwide (from the bottom) are Kyrgyzstan, Venezuela, Philippines, Argentina—La Rioja, Angola, Argentina— Mendoza, Zimbabwe, Ivory Coast, Indonesia and Madagascar.

The exploration budgets reported by companies participating in the survey totalled US$4.6 billion in 2012 and US$3.4 billion in 2013. The complete survey is available as a free PDF download.

If you missed your chance to participate in this year’s survey and would like to be added to the survey list, please email Alana.Wilson@fraserinstitute.org.




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