Nevada, in the US, is now the world’s number-one jurisdiction for mining investment, bumping Western Australia from the top of the chart, according to the latest Fraser Institute survey.
Arizona, which ranked ninth in 2019, sailed into the second place, while Saskatchewan climbed eight spots from eleventh in 2019 to third in 2020.
Western Australia fell to fourth spot and pushed Alaska to fifth. Rounding out the top 10 are Quebec, South Australia, Newfoundland & Labrador, Idaho and Finland.
The report ranks 77 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or deter exploration and investment.
“A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors,” said Fraser Institute policy analyst and report co-author Jairo Yunis.
Quebec’s strong performance in overall investment attractiveness is largely owing to the province’s mineral potential. On government policy alone, Quebec ranked seventeenth, which suggests that there is room for improvement.
Fraser noted that British Columbia and Ontario, two large mining provinces, also performed poorly on the policy front, owing to investor concerns about disputed land claims and protected areas.
Yunis said that policymakers should understand that mineral deposits alone were not enough to attract precious investment dollars.
When considering both policy and mineral potential in the investment attractiveness index, Venezuela ranks as the least attractive jurisdiction in the world for investment followed by Chubut in Argentina, and Tanzania.
Also, in the bottom 10, starting with the worst, are Indonesia, La Rioja in Argentina, Bolivia, Mendoza in Argentina, Zimbabwe, Spain and Michigan, in the US.