According to the latest report published by the Fraser Institute, Finland has been selected as the world's most ideal country for mining and mineral exploration investments. The US states of Nevada and Alaska also rank high on the list.
Canada's overall performance, however, weakened this year. The country, which had four regions in the top 10 in previous years, was only able to maintain this success with Saskatchewan and Newfoundland & Labrador this year. Saskatchewan ranked 7th and Newfoundland & Labrador 8th. Wyoming and Arizona in the US are also among the most preferred regions for investors.
On the other hand, Ethiopia, Suriname, Niger, Mozambique, and Nova Scotia in Canada were selected as the least attractive regions for investors. In terms of the policy environment, Ireland ranked first, while Bolivia ranked last.
The survey evaluated 82 regions and gathered the opinions of nearly 350 mining professionals. Participants provided assessments on issues such as the tax system, permitting processes, environmental regulations, and labor force.
Permit processes and uncertainty came to the fore in Canada
Although some regions in Canada have strong geological potential, it was seen that uncertainty regarding policy and legislation had an impact on investment decisions. In particular, land disputes with local communities and changes in environmental policies influenced investors' decisions.
Sean Kirby, Director of the Nova Scotia Mining Association, stated that despite the region's potential, permit processes pose an obstacle to investment and emphasized the need for greater involvement of relevant experts in the process. Otherwise, this situation is expected to affect next year's rankings as well.
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