Saskatchewan continues to dominate Canada’s mining scene, earning a top 7th place globally in the Fraser Institute’s latest Annual Survey of Mining Companies. The Fraser Institute is an independent non-partisan research and educational organization with a free market orientation.
Newfoundland and Labrador also was among the top ten, ranking 8 place overall and sixth for policy. In terms of policy attractiveness, Alberta, Saskatchewan, and Newfoundland and Labrador are among the top ten ranked jurisdictions. Finland leads the world, with Nevada close behind.
Elmira Aliakbari, Fraser Institute’s resource policy expert, said: “The survey offers the most thorough view of mineral potential alongside government policies that boost or hinder mining investment.”
The Fraser Institute researchers received responses from 350 participants evaluating 82 jurisdictions around the world along a range of evaluative criteria.
Out of 82 jurisdictions, Saskatchewan ranks in the top ten for overall attractiveness for the sixth time in seven years, with top-tier policy support — placing second worldwide for policy friendliness.
Yet, some regions with rich mineral reserves still underperform due to weak policy environments. Yukon and Manitoba, despite their mineral potential, rank 40th and 43rd respectively on policy attractiveness. Meanwhile, British Columbia struggles with land disputes and environmental restrictions, dampening investor confidence.
Quebec, which had been in the top ten for four straight years, falls to 22nd out of 82 jurisdictions as negative perceptions of its policy environment and mineral resources grow.
Nova Scotia sits in the 75 place out of 82 jurisdictions. Nova Scotia is among the bottom ten jurisdictions for mining investment when considering policy factors alone.
Sean Kirby, executive director of the Mining Association of Nova Scotia, commented on the province’s ranking: “The new Fraser Institute study is a stark reminder that we need to mirror how other provinces manage their mineral sectors. While other regions have a Department of Mines responsible for permitting, Nova Scotia does not.”
“Nova Scotia has excellent geology for critical minerals and others, but we must fix our permitting process to attract investment and create jobs. The government needs to restructure its mineral permitting system by consolidating authority into a single department, as other provinces have done.”
Kirby also pointed out a critical mismatch in expertise:
“Most of the government employees with expertise in mining and minerals work in the Department of Natural Resources’ Geoscience and Mines Branch, yet they have little involvement in permitting. Instead, the sector is regulated mainly by staff from other departments who lack mining expertise. That doesn’t make sense and is precisely opposite to the approach in other provinces.”
Uncertainty over protected areas, land claims, and regulatory overlap continue to hamper Canadian mining growth, according to the respondents in the survey. The Fraser Institute’s Aliakbari emphasized that “a predictable regulatory system and competitive policies are key to attracting investment — not just mineral deposits.”
Policymakers across Canada must recognize that fostering a stable, investment-friendly environment is crucial to fully capitalize on their mineral riches.
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