The world’s lowest and highest-risk jurisdictions for mining investment are revealed in Mining Journal Intelligence’s (MJI) World Risk Report 2024 feat. MineHutte ratings.
The World Risk Report is a comprehensive evaluation of mining investment risk, featuring assessments of 117 jurisdictions globally. Risks are assessed across six risk categories (Legal, Governance, Social, Environmental, Fiscal and Infrastructure), using 13 data-driven ‘Hard Risk’ metrics, including Regulatory Risk Ratings by legal consultancy MineHutte, MJI’s partner. In addition to the Hard Risk indicators, which account for 80% of risk scores, jurisdictions are assessed on Perceived Risk, based on the results of MJI’s World Risk Survey, which was completed by 439 mining professionals and experts.
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Ontario tops the table
Ontario was this year’s lowest-risk jurisdiction globally. The Canadian province scored 74.2 on the Investment Risk Index (IRI) – the key measure of overall risk in the report. The score is equivalent to an A risk rating, meaning low risk. IRI scores are out of 100, with higher scores meaning lower risk.
Ontario was the top-scoring (lowest-risk) jurisdiction in the Legal risk category and performed well in the Governance and Social categories. It ranked seventh in MJI’s new Environmental risk category, which compares jurisdictions on EIA approvals risk, water stress and access to low-carbon electricity.
Nevada was the second lowest-risk jurisdiction, scoring 73.1. The US state ranked second overall on Legal risk, with strong performances in the Governance and Environmental categories but a weaker showing in the Social risk category. Canadian provinces and US states made up 18 of the 20 lowest-risk jurisdictions.
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