Best and Worst countries in World Mining survey, Philippines at the bottom

Our country, the Philippines, is ranked as one of the worst countries to do mining in, according to a mining survey by the Fraser Institute.

Worldwide, the top 10 BEST countries to do mining in are:

New Brunswick, Finland, Alberta, Wyoming, Quebec, Saskatchewan, Sweden, Nevada, Ireland, and the Yukon. Seven of the same jurisdictions ranked among the top 10 last year; newcomers include New Brunswick, Ireland (which jumped to ninth from 16th), and the Yukon, replacing Manitoba. Utah (fell to 21st from sixth), and Chile (dropped to 18th from eighth).

This is from a survey of 802 mining exploration and development companies on the investment climate of 93 nations, provinces and states ranked Honduras as the worst jurisdiction for mining exploration and development.

The companies participating in the Fraser Institute’s Survey of Mining Companies queried the mining leaders on their outlook for metals prices, which showed up as quite bleak, except for gold and silver.

At least 70 percent of respondents were of the opinion that coal, diamond, nickel and zinc prices would either increase by less than 10 percent or decline over the next two years.

Nearly half of those surveyed thought silver prices would either increase by more than 50 percent or between 20 and 50 percent.

The respondents took the biggest shine to gold, with more than half anticipating the price of gold would rise by between 20 and 50 percent.

TOP 10 OVERALL WORST COUNTRIES to do mining in:

The bottom 10 scorers were Honduras, Guatemala, Bolivia, Venezuela, India, Philippines, Kyrgyzstan, Ecuador, Indonesia and Vietnam.

TOP 10 MOST CORRUPT COUNTRIES to do mining in:

The 10 jurisdictions considered by the survey respondents to be the most corrupt are India, the Philippines, Indonesia, the Democratic Republic of Congo, Venezuela, Papua New Guinea, Guatemala, Honduras, Madagascar, and Zimbabwe.

TOP 10 LEAST CORRUPT COUNTRIES to do mining in:

The respondents consider Sweden, Norway, Finland, Missouri, Minnesota, Michigan, Idaho, Arizona, Saskatchewan, and South Australia the least corrupt jurisdictions.

Other survey indicators wherein the Philippines ranked low included labor/employment laws/militancy/work disruptions (91st); disputed land claims uncertainty (88th); infrastructure/access to roads and power (86th); regulatory duplication/inconsistencies (84th); political stability (83rd); mining policy/implementation uncertainty (also 83rd); administrative/enforcement regulations uncertainty (82nd).

Moreover, environmental regulations uncertainty (80th); fair/transparent/noncorrupt/timely/efficient legal processes (77th); geological database/quality, scale of maps and access to info (75th); taxation regime (also 75th); trade barriers/tariff and nontariff/profit/currency restrictions (70th); protected areas uncertainty on wilderness, parks or archeology sites (58th); and supply of labor/skills (56th).

Since 1997, the Fraser Institute has conducted an annual survey of metal mining and exploration companies to assess how mineral endowments and public policy factors such as taxation and regulation affect exploration investment. Survey results represent the opinions of executives and exploration managers in mining and mining consulting companies operating around the world.

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