N.W.T. scores poorly in mining company survey

The Northwest Territories is the least attractive region in the country for mining companies to invest in, according to a recent report from the Fraser Institute.

The research centre surveyed mining companies worldwide on everything from mineral potential to corruption.

Tom Hoefer, executive director of the N.W.T. and Nunavut Chamber of Mines, says the report doesn't surprise him.

"I think the real thing we have to do is accelerate it. We’ve got to get acting on them. We don’t want to just look at this report year after year and say 'Yeah, we're still at the bottom,'" he said.

He said the territory is already working towards improvement.

"We have an act called Mackenzie Valley Resource Management Act, which governs all of the various water boards, environmental review boards, and that act is getting quite dated," he said.

"We’ve recommended changes be made and the government is looking at making changes as we speak."

The report also suggests companies are leery of the North because of so-called 'corruption'.

Fred McMahon, a spokesperson for the Fraser Institute, said he cannot give specific details.

"Corruption can be anything from giving somebody a pay-off for a favourable ruling, to taking them to dinner or providing a nice vacation in Las Vegas –anything like that where instead of following regulations themselves, you buy the regulations," he said.

Yukon was in the top 10 as one of the best places for mining investment, and New Brunswick was listed as the overall best place in Canada.