菲沙研究所-矿业公司2021年度调查报告（英）-84页_1mb

2021 Mining Survey Summary

Core Content

The Fraser Institute's Annual Survey of Mining Companies 2021 aimed to evaluate how mineral endowments and public policy factors influence exploration investment. The survey was sent to approximately 2,200 mining and exploration company managers and executives globally, with 290 responses received, covering 84 jurisdictions. The survey results include rankings based on the Investment Attractiveness Index (IAI) and the Policy Perception Index (PPI), which combine mineral potential and policy perception data.

Main Purpose

• To assess the investment attractiveness of mining jurisdictions by evaluating both mineral potential and public policy.
• To provide a "report card" for governments to improve mining-related policies and attract investment.
• To offer insights for the mining sector, investors, academia, and media in evaluating investment opportunities and risk factors.

Key Information

Investment Attractiveness Index (IAI)

• The IAI is a composite index that combines the Best Practices Mineral Potential Index and the Policy Perception Index.
• It is weighted 60% on mineral potential and 40% on policy factors.
• Top Jurisdictions (2021):
  • Western Australia (1/84)
  • Saskatchewan (2/84)
  • Nevada (3/84)
  • Alaska, Arizona, Quebec, Idaho, Morocco, Yukon, and South Australia complete the top 10.
• Bottom Jurisdictions (2021):
  • Zimbabwe (84/84)
  • Spain (79/84)
  • Democratic Republic of Congo (DRC) (82/84)
  • Mali (81/84)
  • Nicaragua, China, Panama, Mendoza, Venezuela, and South Africa are also in the bottom 10.
• Regional Breakdown:
  • Top 10: 4 jurisdictions from the U.S., 3 from Canada, 2 from Australia, and 1 from Africa.
  • Bottom 10: 5 from Latin America (including Argentina), 2 from Africa, 2 from Asia, and 1 from Oceania.

Policy Perception Index (PPI)

• The PPI measures the attractiveness of mining policies based on survey responses.
• Top Jurisdictions (2021):
  • Republic of Ireland (100)
  • Morocco (98.06)
  • Northern Ireland, Western Australia, Quebec, Nevada, Utah, Saskatchewan, Finland, and Alberta are in the top 10.
• Bottom Jurisdictions (2021):
  • Venezuela, Philippines, Argentina: Chubut, Nicaragua, Argentina: Mendoza, Zimbabwe, DRC, Bolivia, Kyrgyzstan, and Mongolia.
• Regional Breakdown:
  • Top 10: 3 from Europe, 3 from Canada, 2 from the U.S., 1 from Australia, and 1 from Africa.
  • Bottom 10: 5 from Latin America (including Argentina), 2 from Africa, 2 from Asia, and 1 from Oceania.

Survey Methodology

• The survey was conducted from August 23rd to November 19th, 2021.
• Response Distribution:
  • 62% of respondents were company presidents or vice-presidents.
  • 25% were managers or senior managers.
• Jurisdictions Included:
  • 84 jurisdictions from all continents except Antarctica.
  • Asia was included for the first time since 2018.
• Minimum Response Threshold:
  • Jurisdictions with fewer than 5 responses were excluded.
• Survey Questions:
  • 15 policy factors were evaluated, including regulation, taxation, infrastructure, environmental regulations, and labor availability.
  • Two questions from previous years (corruption and policy uncertainty) were removed due to redundancy and length concerns.

Summary of Key Policy Factors

The survey asked respondents to rate how each of the following policy factors influenced their investment decisions:

1. Uncertainty in the administration, interpretation, or enforcement of regulations
2. Uncertainty in environmental regulations
3. Regulatory duplication and inconsistencies
4. Legal system fairness and transparency
5. Taxation regime and compliance complexity
6. Uncertainty in land claims
7. Uncertainty in protected areas and land use
8. Infrastructure availability
9. Socioeconomic agreements and community development
10. Trade barriers
11. Political stability
12. Labor regulations and work disruptions
13. Quality of geological data
14. Security conditions
15. Availability of labor and skills

Data and Analysis

• The survey results provide a ranking of jurisdictions based on the IAI and PPI.
• The IAI and PPI are used to evaluate the investment climate for mining.
• The data includes trends over the past five years for each jurisdiction, highlighting changes in attractiveness.
• The survey is published annually and is accessible to a global audience.
• The Fraser Institute believes the survey captures the perceptions of mining and regulatory stakeholders accurately due to its broad reach and positive feedback from participants.

Conclusion

The 2021 survey highlights the importance of both mineral potential and policy environment in determining the attractiveness of a jurisdiction for mining investment. It provides valuable insights for policymakers, investors, and the mining industry, helping to identify regions that are favorable or unfavorable for exploration and development activities.