Dublin, 5 March 2013
The Minister of State for Natural Resources,
Fergus O’Dowd TD, has welcomed the annual Survey of Mining Companies results
published by the Fraser Institute of Canada (3 March 2014), in which Ireland
ranked fourth in the world among 112 jurisdictions for good mining policy.
Jurisdictions with the highest scores are:
Sweden, Finland, Alberta (Canada), Ireland, Wyoming (USA), Western Australia,
New Brunswick (Canada), Nevada (USA), Newfoundland and Labrador(Canada), and
“This placing compares to Ireland’s previous
performance at 6th out of 96 jurisdictions in 2012; 9th
out of 93 in 2011 when we broke in to the top ten; 16th among 79 in
2010”, commented the Minister. Ireland was placed 17th of 72 in 2009
and 26th out of 71 jurisdictions included in the survey in 2008.
Minister O’Dowd was particularly pleased at the
assessment in eight categories that go to make up the overall ranking, where
Ireland scored in the top five including; Infrastructure (includes access to
roads, power availability, etc.) (rank 1); Quality of the geological database
(rank 2); Taxation regime (rank 3), Socio economic agreements/community
development conditions (rank 3) and Level of security (rank 4).
Attractive policy regime for exploration
and mining companies.
This demonstrates an attractive policy regime for
exploration and mining companies considering doing business in Ireland. It will
support the efforts of the Department’s team currently attending the Prospectors
and Developers Association of Canada Annual International Convention, Trade Show
and Investors Exchange in Toronto this week for companies and organisations in
mineral exploration, the largest of its kind in the world.
The sustained improvement in position in relation
to ‘quality of geological database’ (from 32nd in 2011 to
17th in 2012 to 2nd worldwide in 2013), reflects the
Department’s policy of free release of company data with 173 exploration data
reports, which include significant amounts of airborne data, published in 2013
compared to 45 in 2011; the new online viewer with 5,000 drill hole logs
released; and also the recent completion by the Geological Survey of Ireland of
the Tellus Border project. That project, funded by InterReg, extended
world-class coupled geophysical and geochemical surveys from Northern Ireland
into the border counties of Ireland from 2010-2013.
The Indecon report – “Assessment of Economic
Contribution of Mineral Exploration and Mining in Ireland” – was commissioned by
Minister O’Dowd to secure independent sectoral information to support minerals
policy was published in September 2013.
The Irish Mining
In 2012, Ireland was Europe’s largest producer of
zinc metal in concentrate (32% of all European zinc mine output, inclusive of
the Russian Federation) and the 10th largest producer in the world (2.5% of
“The Irish Mining industry, as a significant
global player in terms of zinc and lead output, a strong, competitive industry
that punches above its weight in the international arena,” said Minister O’Dowd.
“This latest adjudication demonstrates that we have a commensurate mining policy
“The central conclusion of the recently published
independent report by Indecon is that the economic value-added contribution of
the mining and mineral exploration industry to the Irish economy is considerable
and far reaching”, he added.
That report estimated the “economy-wide
expenditure impact” of the sector in 2012 at €809.7 million and found that the
activities of exploration and mining companies directly and indirectly supported
over 3,300 full-time, jobs in 2012.
The Minister stated that it is Government policy
to support the search for, and responsible development of, further mineral
resources so that these positive impacts can continue to be enjoyed in the
Notes for editor
Fraser Institute annual survey
The Fraser Institute, in its Annual Survey of Mining Companies,
2013, ranks Ireland 4th out of 112 jurisdictions with Sweden first this year
(on the Policy Potential Index, overall ranking of the survey) compared to 6th
out of 96 jurisdictions in 2012; 9/93 in 2011 when we broke in to the top ten;
16/79 in 2010; 17/72 in 2009; and 26/71 in 2008.
The Fraser Institute has conducted an annual
survey of mining and exploration companies since 1997 to assess how mineral
endowments and public policy factors such as taxation and regulation affect
exploration investment. Survey results now represent the opinions of executives
and exploration managers in mining and mining consulting companies operating
around the world.
As in 2012/2013, four European jurisdictions are
ranked amongst the top-10 highest jurisdictions in the survey. Sweden (ranked
2nd in 2012/2013) replaced Finland as the top-ranked jurisdiction, both in the
region and in the global survey results. Finland ranked 2nd overall in 2013,
while Ireland improved its score and ranking from 6th (of 96) in2012/2013 to 4th
(of 112) in 2013. Norway’s ranking remained steady at 10th although it’s PPI
score increased this year’, (page 72).
Ireland’s performance over the various
categories in the Survey is listed below:
|Figure 15: Infrastructure (includes access to
roads, power availability, etc.)||1|
|Figure 20: Quality of the geological database
(includes quality and scale of maps, ease of access to information,
|Figure 12: Taxation regime||3|
|Figure 16: Socio economic agreements/community
|Figure 1: Policy Perception Index||4|
|Figure 10: Regulatory duplication and
|Figure 21: Level of security||4|
|Figure 10: Regulatory duplication and in
|Figure 13: Uncertainty concerning disputed land
|Figure 18: Political stability||11|
|Figure 11: Legal system||12|
|Figure 8: Uncertainty concerning existing
|Figure 9: Uncertainty concerning environmental
|Figure 22: Availability of labor/skills||17|
|Figure 14: Uncertainty concerning which areas
will be protected||18|
|Figure 3: Investment Attractiveness
|Figure 17: Trade barriers||20|
|Figure 6: Current Practices Mineral Potential
|Figure 19: Labor regulations/employment
|Figure 2: Best Practices Mineral Potential
|Figure 7: Room for improvement||48|
report – “Assessment of Economic Contribution of Mineral Exploration and Mining
in Ireland” – was commissioned by Minister O’Dowd to secure independent sectoral
information to support minerals policy was published in September 2013.