Quebec stakes claim to best policy for mining

Prospectors and investors looking for a stake in the mining sector should turn to Quebec, as la Belle Province is seen by mining executives as having the best policy environment in the world for investment, according to the Survey of Mining Companies 2007/2008. The results of the annual survey were released the end of February by independent research organization The Fraser Institute of Vancouver.

Quebec topped the annual world-wide survey, jumping up from the number seven spot last year. Nevada moved up to number two from third place the previous year.

British Columbia has resumed its upward path in the survey. The western province moved up to 19th spot from 30th in the previous survey.

Manitoba, which ranked number one last year, fell to number five. Alberta, last year’s runner up, dropped to number four. The biggest surprise was Finland, which rocketed from number 29 last year to the number three spot.

“Quebec has always been viewed in a good light by the mining industry, primarily due to its favourable geology,” said Fred McMahon, coordinator of the survey and the Institute’s director of trade and globalization studies. “But Quebec’s government also provides a favourable policy environment to go along with strong mineral potential. Mining companies feel Quebec’s stable policies provide them with the certainty that reduces risk for long-term projects. Year after year, the survey bears out that above all, mineral exploration companies value stability and certainty when it comes to government policy.”

Other jurisdictions rounding out the top 10 are Chile, Utah, Wyoming, Ireland and Sweden. Full results of the survey are available at www.fraserinstitute.org.

The Fraser Institute’s Survey of Mining Companies: 2007/2008 represents the opinions of 372 mining executives and managers worldwide on the policy and mineral endowment of 68 jurisdictions on all continents except Antarctica. “Mining is a fully international business, and these results reinforce the idea that jurisdictions must be prepared to compete on an international basis to attract mining investment,” McMahon said.