Miners losing confidence in Ontario

Ontario has slipped somewhat in mining investor confidence, according to the Fraser Institute’s annual Survey of Mining Companies.

The province joined British Columbia in the slide in this year’s rankings. Internationally, Ontario placed 18th (down three spots from last year) and British Columbia ranked 27th, falling from 18th last year.

“While other jurisdictions in Canada and around the world have improved their attractiveness to investors, Ontario and B.C. fell this year because these provinces continue to be hampered by uncertainty surrounding (First Nation) land claims,” Taylor Jackson, a senior policy analyst with the Fraser Institute and survey co-author, said this week.

This year’s survey ranks 104 jurisdictions worldwide, including Canadian provinces, on their attractiveness to investors based on responses from mining executives from around the world.

Saskatchewan and Manitoba are now the two most attractive jurisdictions for mining investment in the world, according to the survey. The two Canadian provinces beat out Western Australia, which fell from first to third this year.

“Competitive tax regimes, efficient permitting procedures and certainty surrounding environmental regulations and land-claims have vaulted Saskatchewan and Manitoba to the top in the eyes of miners looking to invest,” said Kenneth Green, senior director of the Fraser Institute’s energy and natural resource studies.

Ontario Prospectors Association spokesman Garry Clark said Tuesday that First Nation land issues, not land claims “are hampering” some mining exploration and development in the region.

“The system of mining exploration and approvals needs to be streamlined. Someone has to take a stance,” he said.

“Companies in the Ring of Fire mining camp seem to work well with some communities and then another community has an issue that isn’t exploration” and everything grinds to a halt, Clark said, noting that the system of mining permit review and approvals has to be more consistent, especially when dealing with First Nations.

“Notification of First Nation (community residents as to planned mineral exploration) is not certain,” depending on the priority of the band council and chief, he said.