Delays in developing the Ring of Fire just one issue hindering the province’s ability ‘to unlock its considerable mineral potential’
Once the biggest destination for mining investments in Canada, Ontario now ranks among the least attractive provinces in the country, according to a new survey of the global mining industry.
The Vancouver-based think tank ranks Saskatchewan, Quebec and Yukon as the most competitive jurisdictions in Canada for mining, a ranking that Stedman says is based off miners’ perceptions of both a region’s geology and policies. Commenting anonymously in the survey results, one mining company president said that in Ontario, “there is no clear policy/rules on consultation processes with Indigenous communities, which creates confusion and deters investment.”Mining Association of Canada president and CEO Pierre Gratton Another said that ongoing delays in developing the Ring of Fire mineral deposit is hindering the province’s ability “to unlock its considerable mineral potential.
“What makes a lot of sense to me is that Quebec is now close to the top,” he said, adding the province had overtaken Ontario in total new mine investments. Quebec was placed fourth globally, and second in Canada.
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