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Quebec climbs to 6th spot in Fraser Institute's mining survey Peter Hadekel PETER HADEKEL, SPECIAL TO MONTREAL GAZETTE More from Peter Hadekel, Special to Montreal Gazette Published on: February 24, 2015Last Updated: February 24, 2015 6:31 AM EST A newly constructed bridge spans the Eastmain river in northern Quebec on Thursday October 03, 2013. The bridge leads to Stornaway Diamond's Renard mine and Camp Lagopede. They are located about 800 kms north of Montreal, on the shore of lake Kaakus Kaanipaahaapisk. Pierre Obendrauf / The Gazette SHARE ADJUST COMMENT PRINT After tumbling in the rankings in recent years, Quebec has re-established itself as one of the world’s most attractive mining jurisdictions, according to the Fraser Institute’s annual survey of the mining industry made public Tuesday. The province jumped to sixth spot in the 2014 rankings for investment attractiveness after finishing 18th the year before. The survey rated 122 jurisdictions around the world “based on their geological attractiveness and the extent to which government policies encourage exploration and investment.” Quebec sat on top of the international rankings from 2007 to 2010 but then dropped as industry perceptions of the province turned negative. Increased red tape, royalty hikes and uncertainty surrounding new environmental regulations all took their toll. But a change of government in Quebec seems to have helped turn those perceptions around. “The confidence mining executives now have in Quebec is due in part to the province’s proactive approach to mining policy and its Plan Nord strategy to encourage investment and mineral exploration in northern Quebec,” said Kenneth Green, the Fraser Institute’s senior director of energy and natural resources. The Liberal government under Philippe Couillard breathed new life into the Plan Nord after taking over from the previous Parti Québécois administration, which had been noticeably cool to the plan first proposed by former Liberal premier Jean Charest. While uncertainty surrounding mineral prices has held back new investment in Quebec, the Liberals have pledged to push the Plan Nord strategy by improving transportation infrastructure and making direct investments where needed. Reflecting the improved mood, an index measuring policy perception places Quebec 12th in the world, up from 21st in 2013. However, Quebec got a black eye in the mining community over its handling of the Strateco Resources Inc. uranium mine, which has been repeatedly delayed. A moratorium was imposed on all uranium exploration permits, which the industry saw as an arbitrary and unnecessary action that devastated junior explorers. As well, the Fraser Institute’s Green noted that in Ontario and British Columbia uncertainty surrounding First Nations consultations and disputed land claims should serve as “a stark lesson for Quebec. Above all, mining investment is attracted when a jurisdiction can provide a clear and transparent regulatory environment.” Finland finished first overall in this year’s survey of 485 mining executives from around the world. Exploration budgets reported by companies participating in the survey totalled US$2.7 billion, down from US$3.2 billion in 2013. Despite its strong performance, Quebec was edged out by two other Canadian provinces: Saskatchewan finished second and Manitoba fourth. A strong Canadian showing included eighth spot for Newfoundland and Labrador and ninth for Yukon. The mining industry has been hampered by a lack of financing for exploration as well as continued uncertainty over future demand and prices. The report found an overall deterioration in the investment climate around the world. There is “a stark difference between geographical regions; notably the divide between Canada, the United States and Australia and the rest of the world.” [email protected] sent via Tapatalk
GFCI 16 provides profiles, rating and rankings for 83 financial centres, drawing on two separate sources of data - instrumental factors (external indices) and responses to an online survey. 105 factors have been used in GFCI 16, of which 42 have been updated since GFCI 15 and 4 are new. New York, London, Hong Kong and Singapore remain the top four centres. All fourt centres lose.points in the GFCI ratings but retain their relative ranks. New York remains the top centre but by only one point on a scale of 1,000. Following GFCI 15, London remains just behind New York due to uncertainty over the UK’s position in Europe, regulatory creep and the UK appearing to be less welcoming to foreigners all being contributing factors. ... Montreal went from 16th to 18th but still is in the top 20 !! http://www.zyen.com
I apologize in advance if anybody gets pissed off at me, I dont mean to offend anybody personally with the following. WHY DO WE BLAME OUR MISFORTUNE ON OTHER PEOPLE? Why can't we all collectively stare each other in the eye, and realize that the things that have passed up by, our mediocrity as a city,an economy, and a province has stagnated because we have allowed it. NOT Toronto, Not ROC English Canadians, Not the federal government.... US..NOUS sommes la raison. Why is everything a federal conspiracy? Why do we get mad when MOntreal International get less financing because it hasnt met its objectives? Why do we get mad when consolidation is the name of global enterprise, and we get merged with a larger wealthier stock exchange than our Montreal Commodities exchange? When I read this board, I get a range of emotions from euphoric (Montreal has some neat developments and is at a crossroads in its development) to pessimistic (NIMBYs,political red tape slowing down projects, talks of political uncertainty). Havent we realized, yet, that the mistakes of the past and the things of the past, have held us back, and our development for so long? So I ask you again, why do we blame others for our misfortune? How much if it is created by us? Why cant we stand up, and position Montreal to get back that which it lost ... Canada's economic powerhouse, and cultural capital. Can we stop looking in the rear-view mirror, and move forward? I love Montreal, more than my province or country. I dream of the day when we can stand up and be a top 5 metropolis in North America, and a top destination in the world. I dream of the day when we put Toronto to shame....and I wish everybody felt the same way I did.