News Releases

News Release - Manitoba

March 6, 2007

PROVINCE'S MINING POLICIES RECOGNIZED BY EXPLORATION AND MINING COMPANIES AS BEST IN THE WORLD



Manitoba has been rated as having the best policy environment in the world for mining investment based on the results of the latest Fraser Institute survey, Science, Technology, Energy and Mines Minister Jim Rondeau announced today.
 
“We have worked closely with stakeholders to develop an investment climate that will attract exploration and development, and create mutually beneficial opportunities.” said Rondeau. “Our formula of strong incentives combined with rich resources and a comprehensive geological database continue to be solid economic drivers for Manitoba’s mining sector. While we have consistently ranked among the top jurisdictions, we welcome this number one rating for the first time.”
 
Rondeau noted the province is committed to investing in mineral exploration and mining to boost the economic opportunities the sector delivers.
 
Mining is Manitoba’s second-largest primary resource industry, breaking the $2-billion mark in mineral production in 2006.
 
Recent initiatives to boost the mining industry in Manitoba include:
·         the Mineral Exploration Assistance Program and the Prospectors’ Assistance Program, which offer approximately $2.5 million in annual funding to support exploration;
·         development of Internet map staking to facilitate the process of acquiring mineral dispositions; and
·         the establishment of a $70-million account for the rehabilitation of orphaned and abandoned mine sites.
 
“Manitoba has the political stability that many other jurisdictions don’t offer,” said Dale Ginn, CEO of San Gold Corporation. “Companies are attracted to Manitoba because of its policies for mineral investment that make it one of the best places in the world to explore.”
 
The Fraser Institute’s annual survey asks mining company executives to provide opinions about the investment attractiveness of 65 jurisdictions around the world on every continent except Antarctica.
 
The mission of the institute, an independent research and educational organization, is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals.
 
Between 2004 and 2006, Manitoba, was rated third in the area of policy potential.
 
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Backgrounder
Manitoba Mining Highlights - https://www.gov.mb.ca/asset_library/en/newslinks/MANITOBAMININGHIGHLIGHTS.doc