Nevada is the most attractive spot in
the United States for mining because of
its politics as well as its geology, a survey
of mining executives found.
Attractive geology does not guarantee
mining investment if a region's policies
are bad, said mining executives surveyed
in the sixth Annual Survey of Mining
Companies, released last week by The
Fraser Institute, a Canadian economic
think tank.
"Jurisdictions like Chile, Australia,
Quebec, and Nevada, which bolster
attractive geology with mining-friendly
policies, do well on the overall investment
attractiveness index. Other jurisdictions
like British Columbia and Russia, who
also have excellent geology, are hurt by
their policies which have lowered their
score," said Liv Fredricksen, the survey's
coordinator.
Chile claims the highest rank on the
survey with a score of 94 points out of a
possible 100. Quebec, was the top-rated
North American jurisdiction with score of
90.
Australia is the next most attractive
jurisdiction with an overall score of 89,
and Nevada is the highest rated jurisdiction
in the United States with a score of
86.
Also placing in the top ten jurisdictions
for overall investment appeal were: Peru
(84), Brazil and Ontario (both with 83),
Mexico (74), the Northwest Territories
and Bolivia (both with 68), and Nunavut
(67).
Wisconsin (13),Washington and New
Zealand (both with 22), and Nova Scotia
and India (both with 24) all rank among
the least attractive areas for new mining
investment based on their poor ratings in
both mineral and policy potential.
The 158 companies participating in the
survey include 27 senior mining companies
and 131 junior mining companies
which together represent 60 percent of the
total mineral exploration expenditure in
Canada in 2001 as estimated by Natural
Resources Canada.
The survey represents about 32 percent
($56 million) of the exploration expenditures
in the United States in 2001, and 37
percent ($237 million) of the exploration
expenditures in Latin America in 2001 as
estimated by Metals Economics Group.
