Ontario unseated Saskatchewan as Canada's top-rated jurisdiction for mining investment, ranking 2nd globally

VANCOUVER, BC, Feb. 26, 2026 /CNW/ - Ontario ranks as Canada's top-rated jurisdiction for mining investment, ranking 2^nd globally in the Annual Survey of Mining Companies released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Nevada is the top-ranked jurisdiction worldwide for mining investment in this year's survey, moving up from 2^nd place in 2024, followed by Ontario in second place.

"The Fraser Institute's mining survey is the most comprehensive report on not only mineral potential but also government policies that either encourage or discourage mining investment," said Elmira Aliakbari, director of the Fraser Institute's Centre for Natural Resource Studies and co-author of the study.

This year's report ranks 68 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or discourage exploration and investment, including permit times.

On overall investment attractiveness, Saskatchewan (3^rd) ranks in the global top ten for the sixth time in seven years, with Ontario leading in 2^nd place globally. In terms of policy factors alone, Alberta ranks in the global top three while Ontario ranks 5^th, Newfoundland & Labrador ranks 7^th, and Saskatchewan ranks 8^th globally.

However, some Canadian jurisdictions are not capitalizing on their strong mineral potential due to a lack of a solid policy environment that would attract investment. For instance, Yukon and Manitoba--ranking 11^th and 13^th for mineral potential--fall to 47^th and 39^th, respectively, when considering policy factors alone.

Similarly, Nunavut and the Northwest Territories, despite ranking 17^th and 19^th in terms of mineral potential, fall to 43^rd and 54^th, respectively, when ranked on policy factors, making them--along with Yukon--the worst-performing Canadian jurisdictions on policy factors.

In addition, British Columbia continues to perform poorly on the policy front largely due to investor concerns over disputed land claims and protected areas.

Overall, uncertainty surrounding protected areas, land claims disputes and environmental regulations along with regulatory duplication and inconsistencies continue to hinder mining investment in various Canadian jurisdictions.

"A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors," said Aliakbari. 

"Policymakers in every province and territory should understand that mineral deposits alone are not enough to attract investment."

Overall investment attractiveness for Canadian provinces and Territories

(out of 68 worldwide)

Province/Territory	Rank	Province/Territory	Rank
Ontario	2	Alberta	24
Saskatchewan	3	Yukon	27
Newfoundland & Labrador	14	Nunavut	29
British Columbia	20	New Brunswick	37
Quebec	22	Northwest Territories	45
Manitoba	23	Nova Scotia	54

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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org

SOURCE The Fraser Institute

MEDIA CONTACTS: Elmira Aliakbari, Director, Centre for Natural Resource Studies, Fraser Institute; To arrange media interviews or for more information, please contact: Drue MacPherson, Fraser Institute, 604-688-0221 ext. 721, [email protected]