Released on March 4, 2011
The Fraser Institute released the Annual Survey of Mining Companies on March 3, that indicated Saskatchewan is the third best jurisdiction in the world for mining companies to invest in 2010/2011.
The report looks at a number of areas including policy potential, current mineral potential, regulatory and tax regime as well as overall stability. Saskatchewan's third-place ranking this year is an improvement over the sixth place in last year's report.
"This report is good news for the potential of the mining sector in Saskatchewan," Energy and Resources Minister Bill Boyd said. "We have a stable and very competitive business climate in the province, and that is a definite asset when it comes to expanding current mining operations or attracting new investment."
According to the report, Saskatchewan has a clear regulatory climate and an efficient conflict-resolution system in place that was lauded by the mining companies participating in the survey.
Four provinces were in the top 10 jurisdictions in the survey, with Alberta taking the top spot. Quebec dropped from first last year to fourth in this year's survey due to proposed tax increases. Manitoba was ninth in the survey.
"The mining sector accounts for an estimated 30,000 jobs and provides a wide range of business opportunities right across the province," Boyd said. "Saskatchewan accounted for 13.5 per cent of total Canadian mineral exploration spending in 2010, behind only Ontario and Quebec. The Fraser Institute report confirms we are a destination of choice for mining companies and that bodes well for future investment in Saskatchewan."
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For more information, contact:
Roy Schneider
Energy and Resources
Regina
Phone: 306-787-1691