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CBC
31-07-2025
- Business
- CBC
Manitoba less attractive for mining investment, conservative think tanks says
A conservative Canadian think tank says Manitoba is less attractive to mining companies than it was a year before, despite the provincial government's characterization of the province as a "Costco for critical minerals." The Fraser Institute, a charitable organization that promotes free-market economics, ranks Manitoba 26th among 82 jurisdictions around the world in its 2024 survey of mining companies' opinions of the most attractive places to invest. That's down from No. 6 in the organization's 2023 survey, based on concerns expressed by survey participants about community development conditions placed on mining proposals, political stability and "uncertainty regarding what areas will be protected" from development, according to study authors Julio Mejía and Elmira Aliakbari. "Overall, investors expressed concern over all aspects of policy in Manitoba," the study authors note in the report, which includes comments expressed by survey respondents about the province's attractiveness to mining companies. "Manitoba was once a world-class jurisdiction that welcomed exploration. Today, it aspires to be a leader in critical minerals, yet only [four] mines are operating in the province, and a long list of roadblocks makes it difficult to explore new ground," according to unnamed exploration company president cited in the study. A manager at another unnamed mining exploration company is quoted as calling the province's heritage impact assessment "an example of poor policy" because, the officials claims, the assessment "halts exploration altogether." Both Premier Wab Kinew and his predecessor Heather Stefanson have extolled Manitoba's mining potential, with both premiers calling the province "Costco for critical minerals." But there are only four active mines in the province: the Padcom potash mine near Russell; Hudbay's Lalor zinc, copper and gold mine at Snow Lake; Vale's nickel and copper mine in Thompson; and Sinomine's Tanco mine at Bernic Lake, which has tantalum, cesium and lithium deposits. New gold mine significant: minister Jamie Moses, Manitoba's minister of Business, Mining, Trade and Job Creation, would not say whether he believes the Fraser Institute ranking is credible or not. Moses said the survey was conducted before construction started on the Alamos Gold open-pit project east of Lynn Lake and the launch of a provincial critical minerals strategy. "We've shown significant steps of how we're getting better and how we're working with industry better," Moses said Wednesday in an interview. "We have actually done more than previous governments have. We've opened up a new generational gold mine in the province. That's something the previous government couldn't say." The Opposition Progressive Conservative Party, which was in power when the Alamos Gold project was being developed, said in a statement it hears complaints directly from industry about Manitoba's receptiveness to mining. "NDP policies are anti-business and are discouraging development in our province. Manitoba has what the world needs, and Wab Kinew's NDP need to stop letting their ideology get in the way of prosperity," PC finance critic Lauren Stone, the MLA for Midland, said in the statement A spokesperson for the Mining Association of Manitoba deferred comment on the Fraser Institute survey, stating the organization is still reviewing the study. The jurisdictions ranked by the survey included every Canadian political division except Prince Edward Island, 13 U.S. states, seven out of eight Australian states and territories, two Argentinean provinces, one region of the U.K. and 46 entire countries. Finland ranked first in the survey for investment attractiveness, while Saskatchewan was the top-ranked Canadian jurisdiction, at seventh. This index combines both mining policies and the mineral potential in a given jurisdiction, the survey authors stated.
Yahoo
29-07-2025
- Business
- Yahoo
Canada slips in mining rankings, but is still home to 2 of world's top 10 most attractive jurisdictions
Saskatchewan and Newfoundland and Labrador are among the top 10 jurisdictions in the world for mining investments, according to an annual report released Tuesday by a Canadian think tank. Finland ranks as the most attractive jurisdiction for mining investment, followed by four states in the United States, according to the Vancouver-based Fraser Institute's Annual Survey of Mining Companies. 'Overall, we see there's significant room for improvement in the policy environment (in Canada),' said Elmira Aliakbari, director of natural resource studies at the Fraser Institute and one of the report's authors. About 350 mining professionals responded to the survey, which was conducted between August and December last year, and they were asked various questions about taxation regimes, environmental protections, labour availability and other topics. About 40 per cent of the respondents worked for exploration companies, 32 per cent for mining companies and the remainder identified as consultants or as other. Last year, four Canadian provinces ranked amongst the world's top 10 jurisdictions, compared to only two this year: Saskatchewan was seventh and Newfoundland and Labrador was eighth. Aliakbari said the decline is mainly due to policy uncertainty, particularly around environmental protections and disputed land claims with indigenous groups. For example, Saskatchewan dropped to seventh on the overall 'Investment Attractiveness Index' after ranking third in 2024 and second in 2023. The report said 'respondents expressed increased concerns over the province's taxation regime, regulatory duplication and inconsistencies, and uncertainty concerning environmental regulations. Ontario dropped in the rankings for the second year in a row, to 15th from 10th last year, because of increased concerns about its taxation regime, labour regulations and political stability. Quebec had an even bigger drop, to 22 from fifth last year, because of increased concerns over taxation, regulatory duplication and its legal system. Aliakbari said British Columbia has 'significant room for improvement' even though it moved up in ranking to 12th from 25th last year. That's because it has geological potential that it isn't fully realizing, she said. Similarly, she said Yukon scores well when assessing its geological potential, but that's not necessarily reflected in its overall investment ranking of 24th because there's a poor perception of its policy environment. 'It means these jurisdictions have failed to capitalize on their mineral potential,' she said. Canadian provinces aren't the only jurisdictions that moved down. Last year, Utah was tops, but it dropped to 11th, with respondents citing increased uncertainty over disputed land claims as well as trade barriers. The Republic of Ireland ranked highest in terms of how mining professionals perceive its policy environment, but a comparatively lower ranking on its geological potential put its overall investment ranking at No. 23. Canada has potential to be a global mining leader, says PwC Mark Carney's import curbs put Canadian steel first Finland ranked second on policy perception, which, when combined with a strong geological potential, placed it first in the overall investment ranking. Since the survey ended, Mark Carney has been elected Canada's prime minister, and the federal government as well as several provinces have passed legislation that could accelerate the timeline and regulatory requirements for major projects such as large mines. Aliakbari said those changes could be reflected in next year's report. For now, she said, respondents, broadly speaking, continued to cite policy uncertainty around environmental protections, disputed land claims and taxation as major barriers to making more mining investments in Canada. 'We see investors continue to cite policy uncertainty as a key deterrent,' Aliakbari said. • Email: gfriedman@
Cision Canada
29-07-2025
- Business
- Cision Canada
Saskatchewan remains Canada's most attractive jurisdiction for mining investment
VANCOUVER, BC, July 29, 2025 /CNW/ - Saskatchewan remains Canada's top-rated jurisdiction for mining investment, ranking 7 th globally in the Annual Survey of Mining Companies released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. Finland is the top-ranked jurisdiction worldwide for mining investment in this year's survey, followed by Nevada. "The Fraser Institute's mining survey is the most comprehensive report on not only mineral potential but also government policies that either encourages or discourages mining investment," said Elmira Aliakbari, director of the Fraser Institute's Centre for Natural Resource Studies and co-author of the study. This year's report ranks 82 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or discourage exploration and investment, including permit times. On overall investment attractiveness, Saskatchewan ranks in the global top ten for the sixth time in seven years, followed by Newfoundland & Labrador at 8 th. In terms of policy factors alone, Saskatchewan ranks in the global top three while Newfoundland & Labrador ranks sixth and Alberta ranks 9 th. However, some Canadian jurisdictions are not capitalizing on their strong mineral potential due to a lack of a solid policy environment that would attract investment. For instance, Yukon and Manitoba, despite being among the top ten most attractive jurisdictions for mineral endowment, rank 40 th and 43 rd respectively when considering policy factors alone. In addition, British Columbia continues to perform poorly on the policy front largely due to investor concerns over disputed land claims and protected areas. Overall, uncertainty surrounding protected areas, land claims disputes and environmental regulations along with regulatory duplication and inconsistency continue to hinder mining investment in various Canadian jurisdictions. "A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors," said Aliakbari. "Policymakers in every province and territory should understand that mineral deposits alone are not enough to attract investment." Overall investment attractiveness for Canadian provinces and territories The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit SOURCE The Fraser Institute
Toronto Sun
23-05-2025
- Business
- Toronto Sun
Doubling Canada's LNG exports would reduce global emissions: study
A new Fraser Institute report says exporting Canadian LNG to replace coal-fired power production in India, China could reduce CO2 emissions by over 630 megatonnes FortisBC Tilbury LNG Facility in Delta, B.C. is pictured on Oct. 11, 2018. Photo by Jason Payne / Postmedia Network OTTAWA — While Liberal energy policy has largely consisted of leaving Canada's energy resources in the ground, a new study suggests doubling our natural gas production could almost entirely offset Canada's yearly carbon dioxide emissions. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account While this flies in the face of what has become the government's environmental catechism, the new Fraser Institute study says leveraging Canadian liquefied natural gas (LNG) exports to supplant coal-fired power generation in China and India could reduce global emissions by up to 630 million tonnes— a figure that's just under what Canada emits annually. 'Coal remains a dominant energy source in many parts of the world and a major contributor to greenhouse gas emissions,' said Elmira Aliakbari, study co-author and the institute's director of natural resource studies. As of 2023, coal accounted for around 56% of India's total energy generation, and 54% in China. Aliakbari said coal produces nearly twice the amount of pollutants as LNG. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'So as the world looks for practical ways to cut emissions, Canada's natural gas, especially in its liquid form or LNG, can make a real difference,' she said. 'Our study found that if Canada doubled its existing natural gas production and exported the additional supply to Asia in the form of LNG to replace coal in the power sector, global emissions could drop by up to 630 million tons a year.' Read More That's the same as taking 137 million cars off the road, Aliakbari said. While Canada ranks 12th in world CO2 emissions, what we produce doesn't come close to China — which emits about as much CO2 as the top nine nations combined. This advertisement has not loaded yet, but your article continues below. Canada's cooler climate means we can process and liquefy natural gas easier and cheaper than other producers, Aliakbari said. Coupled with Canada being geographically closer to China and India, it makes sense for Canada to increase its LNG exports. And the world wants our gas — as evidenced by the nations that have requested, and refused, access to Canadian LNG by the Justin Trudeau Liberals. 'Following the invasion of Ukraine by Russia, so many European leaders came basically to Canada looking for a new supplier of LNG,' Aliakbari said. 'They recognized us as a reliable and safe supplier.' RECOMMENDED VIDEO While LNG Canada's Phase 1 project in Kitimat, B.C. is expected to start shipping gas later this year, Canada's production and export infrastructure needs a serious boost before our potential can be realized. This advertisement has not loaded yet, but your article continues below. 'Over the past few years, we see that several LNG projects in the country have either been canceled or delayed, in part due to onerous regulations,' Aliakbari said, pointing to provincial and federal policies hindering development, including Ottawa's Impact Assessment Act and federal emissions caps. 'Our approach in Canada in terms of climate policy has been focused on reducing domestic greenhouse gas emissions by implementing policies like net zero — policies that would slow down our economy,' she explained. 'But it's important to recognize that emissions are a global problem.' bpassifiume@ X: @bryanpassifiume Celebrity Music Toronto Maple Leafs Music Canada
Associated Press
22-05-2025
- Business
- Associated Press
Fraser Institute News Release: Doubling Canadian natural gas production and exporting to Asia could reduce global emissions by up to 630 million tonnes--nearly as much as Canada produces in a year
VANCOUVER, BC, May 22, 2025 /CNW/ - Canada could help significantly reduce global greenhouse gas emissions by increasing natural gas production and exporting the additional supply to Asia in the form of liquefied natural gas (LNG), according to a new study from the Fraser Institute, an independent, non-partisan Canadian public policy think tank. 'As countries like China and India continue to burn coal for power, Canadian LNG offers a lower-emission alternative with the potential for major global impact,' said Elmira Aliakbari, director of natural resource studies at the Fraser Institute and co-author of the study, Exporting Canadian LNG to the World: A Practical Solution for Reducing GHG Emissions. The study estimates the impact from Canada doubling its natural gas production and exporting to Asia to replace coal-fired power. In that scenario, global emissions could drop up to 630 million tonnes annually, which is the equivalent of removing approximately 137 million cars from the road. More specifically, replacing coal-fired power in China with Canadian LNG could cut emissions by up to 62 per cent for every unit of power produced. 'Focusing only on domestic emissions ignores Canada's potential to support global climate goals,' said Aliakbari. 'By displacing coal abroad, Canadian LNG can play a critical role in cutting total global emissions even if domestic emissions were to increase.' However, regulatory uncertainty and a range of federal and provincial policies continue to hinder LNG development in Canada, despite strong global demand. 'Policymakers need to clear a path if Canada is going to play a meaningful role in reducing global emissions,' Aliakbari added. Follow the Fraser Institute on Twitter | Like us on Facebook The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, Halifax and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit SOURCE The Fraser Institute
