B.C. falling short of its considerable mining potential
To encourage natural resource development and the prosperity that comes with it, mining investors need more certainty about exploration activities – not less. It’s an issue that deserves immediate attention in B.C.
According to a recent Fraser Institute survey of senior mining executives, British Columbia’s regulatory and mining permitting processes are onerous compared to competing Canadian provinces. This should be top of mind for the government of Premier John Horgan as it evaluates sweeping reforms to natural resource regulation.
A recent provincial government-commissioned report reviewed B.C.’s existing “professional reliance model” – a system that charges industry to police itself. The report calls for greater oversight of B.C.’s resource sectors by creating a new provincial regulator.
The intended purpose of the province’s review is laudable: to ensure transparency and good governance for the natural resource sector. However, the report has far-reaching implications for the mining industry and the recommendations, if implemented, will likely exacerbate investor uncertainty.