WHITEHORSE—Energy, Mines and Resources Minister Scott Kent said today that Yukon is in a strong position to maintain and improve its stature as a global leader in mineral development and investment.
Minister Kent’s remarks follow the Fraser Institute’s 2014 Survey of Mining Companies, in which Yukon placed 9th for most attractive jurisdiction in the world for mining investment. Respondents to the Fraser Institute survey rated Yukon’s geological prospects as the best in the world for exploration investment – a standing achieved as a result of the work of the Yukon Geological Survey and industry partners, who have identified the territory’s vast mineral potential.
“The Fraser Institute Survey reflects what we already know about the state of Yukon’s mining and exploration industries,” Kent said. “We are very proud of our standing but we also know there is room for improvement. The survey affirms that there is still work to do with First Nations and industry to improve exploration and mining success in Yukon.”
Working with First Nations and industry, the Yukon government is moving forward with two initiatives to help ensure that Yukon emerges from the current downturn in a better position.
In 2016 the Yukon government will have a Mineral Development Strategy in place that will help ensure the territory is competitive and well-positioned on the global stage for mineral investment.
The Yukon government is also working on the Mine Licensing Improvement Initiative, which will improve Yukon’s regulatory process by reducing overlap and duplication during the mine licensing process. When complete, this initiative will provide more certainty for companies doing business in Yukon.
“We have the most promising geology in the world, but global mineral prices have directly impacted mining exploration and production here and abroad,” Kent added. “We are making positive strides forward on enhancing regulations and increasing certainty for industry. This, combined with our undisputable geological prospects, will help Yukon thrive in the near future.”
The Fraser Institute survey was conducted from August 26 to November 15, 2014; it was distributed to 4,200 executives and exploration managers in mining and mining consulting companies operating around the world. A total of 485 responses were received.
Communications, Energy, Mines and Resources