Nevada, Quebec tops spots for exploration

Nevada and Quebec are the most attractive places to explore for minerals in the world, according to a study by the Fraser Institute.

The Vancouver-based research group based its findings on mineral potential, taxation, regulatory consistencies and land use policies.

“Exploration investment is a key indicator of the future health of the mining industry,” says the study’s co-ordinator, Laura Jones, who is the institute’s director of environmental and regulatory studies.

Other regions favoured in the study include Chile, Australia, Manitoba, Peru, Ontario, Alaska, Argentina and Mexico.

At the opposite end of the scale, Maine and British Columbia were rated the least attractive place to explore for minerals. It was the third consecutive year B.C. received the lowest score of any jurisdiction for policy potential.

Other low-ranking regions include Wisconsin, Michigan, Texas and California.

“While many jurisdictions have favourable geology that could easily compete with other regions around the world to attract investment, unfavourable policies increasingly threaten new exploration,” Jones says.

The survey was based on a poll of 111 mining companies, including 88 juniors, which are said to represent 43% of all mineral-related expenditures in Canada and 35% of those in the U.S.