One of five Canadian provinces in the top 10 for mining friendliness
The Fraser Institute’s mid-year survey of mining companies showed that miners believe attitudes toward their industry have worsened since last April in 41 of the 51 jurisdictions surveyed. The report, which ranks mining jurisdictions based on how attractive they are for mining, placed Alberta at the top of the heap, unseating Quebec for the top spot. This is due to an unexpected mining tax hike in Quebec, which now ranks in the third spot. “Unstable tax regimes and instability in general are bad things. And when you raise taxes without consultation, it’s a real killer,” said the Fraser Institute’s Fred McMahon, who co-wrote the survey. The biggest loser, according to the survey, was Australia. Australian miners still face tax hikes following the controversial “super profits” retroactive tax on the resource sector, which was dropped. Five Canadian provinces (Alberta, Quebec, Yukon, Saskatchewan, and Newfoundland and Labrador) ranked in the Top 10, and bottom of the rankings contained Russia, Venezuela, Zimbabwe, Ecuador and Kazakhstan.