Alberta and New Brunswick topped Canada’s list of top mining investment jurisdictions in Canada, according to a Fraser Institute report released yesterday.
The two jurisdictions respectively ranked first and second in Canada and third and fourth out of 96 jurisdictions around the world.
B.C., meanwhile, came in second to last in Canada – beating out only Nunavut – and 31st globally.
Kenneth Green, Fraser Institute senior director of energy and natural resources and director of the report, Survey of Mining Companies: 2012/13, said Alberta and New Brunswick are well-regarded by investors for their “transparent, straightforward, productive” approach to mining policy.
“Alberta and New Brunswick offer competitive taxation regimes, sound legal systems and relatively low uncertainty around land claims,” he said. “That’s what miners are looking for.”
B.C. ranked in approximately the top third of jurisdictions across most of the parameters surveyed, including taxation and mineral potential. It got its worst rankings for parameters such as “uncertainty concerning environmental regulations” and “uncertainty concerning disputed land claims.”
One B.C. exploration company manager, quoted in the report but not identified by name or company, lambasted B.C. for “unacceptable” exploration and development permit wait times.
“Recently a permit application that had been sitting without release for referral to First Nations for three months was resolved, but only with the intervention of the government minister,” the manager said. “There is no consistency between how local offices deal with referrals and no consistency with how they are issued.
“There is a general lack of communication and commitment from B.C. government employees to service the public, although there are notable exceptions.”
