Nevada is the most attractive jurisdiction in the world in 2020 for mining investment, followed by Arizona and Saskatchewan, according to a new report from the Canada-based Fraser Institute.

Lithium mining is booming in Nevada and copper is driving mining projects in Arizona.

Western Australia had been No. 1 last year but has dropped to No. 4, Kallanish reports.

Nevada had been No. 3 in 2019. Arizona had been 9th and Saskatchewan had been 11th last year.

“The Fraser Institute’s mining survey is the most comprehensive report on government policies that either attract or discourage mining investors,” says Elmira Aliakbari, director of the institute’s Centre for Natural Resources Studies and co-author of the report that looks at 77 jurisdictions around the world.

The report by the Alberta-based independent think tank analyses geologic attractiveness (minerals and metals) and government policies that encourage or discourage exploration and investment. Its survey got 276 responses.

The rest of the Top 10 jurisdictions are: Alaska, Quebec, South Australia, Newfoundland and Labrador, Idaho and Finland.

The least-attractive jurisdictions include Venezuela and three provinces in Argentina, the report says.

The Bottom 10 (from best to worst) are Michigan, Spain, Zimbabwe, Argentina/Mendoza, Bolivia, Argentina/La Rioja, Indonesia, Tanzania, Argentina/Chubat and Venezuela.

Two very-active Canadian mining areas, British Columbia and Ontario, perform poorly in the policy front due to investor concerns about disputed land claims and protected areas, the report says. British Columbia ranks 17th and Ontario is 20th.