A 2020 survey of exploration and resources released last month by the Fraser Institute found the newest attraction for mining investors to be Nevada, which is in the United States. Nevada replaced Western Australia, which is rich in iron ore.
Fraser Institute’s new popular ranking was based on responses collected from 276 participants, which offered adequate data to assess the overall investment attractiveness of 77 regions.
The result is a combination of the Policy Perception Index and the Best Practices Mineral Potential. The former is a composite indicator that measures how attitudes toward exploration investment are affected by government policy while the latter rates regions based on of their geologic attractiveness.
The second-most attractive region was found to be Arizona, another state in the United States, which climbed up from its 2019 ninth place ranking. The Saskatchewan province in Canada also moved up eight spots from its 2019 ranking to third place in 2020. This makes Saskatchewan province the most attractive region for mining investment in Canada.
On the other hand, Western Australia dropped from the first place as the most attractive region in 2019, to fourth place in 2020. Alaska also descended one spot, from fourth place in 2019 to fifth place last year. The remaining five regions, which make up the top-ten most attractive regions for mining investors are Quebec, Labrador and Newfoundland, South Australia, Finland and Idaho.
With regard to ranks on the Investment Attractiveness Index, after Australia, Canada is the second most attractive jurisdiction for investment. This year, the Canadian provinces of Labrador and Newfoundland, Quebec and Saskatchewan all made it to the top-10 most attractive regions, displacing Sweden, Ireland and Portugal, which is a significant climb. In 2019, no jurisdiction from Canada was featured in the list of the 10 most attractive regions.
One of the authors of the Fraser Institute report, Elmira Aliakbari, stated that Canada’s general improvement on investment attractiveness was mainly driven by better comprehension of the country’s mineral potential by investors, which make up roughly 60% on the main index. Aliakbari also declared that policymakers in every territory and province should note that mineral deposits aren’t enough to attract more investments.
Additionally, answers given by the mining executives who participated in the survey found that the 10 least attractive regions for investment are Chubut province in Argentina, Tanzania, Indonesia, La Rioja (which is also in Argentina), Bolivia, Mendoza (located in Argentina), Zimbabwe, Spain and Michigan.
Speaking of ideal mining destinations, Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) has a pipeline of precious metals projects in Germany, Idaho and Mexico, which all indicate sustained growth for the company.
NOTE TO INVESTORS: The latest news and updates relating to Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) are available in the company’s newsroom at https://ibn.fm/EXN
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