Why B.C. is a preferred jurisdiction for mining headquarters

Pick any mining jurisdiction in the world—Mexico, Chile, the Democratic Republic of Congo —and you are likely to find at least one mining or exploration company there that is headquartered in Vancouver.

Pan American Silver —founded by B.C. mine financier Ross Beaty—operates a mine in Timmins, Ontario, but otherwise, its silver and gold mines are located in Mexico, Guatemala, Chile, Peru, Bolivia and Argentina. Lucas Lundin, a Swedish-Canadian mining magnate who died in 2022, founded two Vancouver-headquartered companies: Lundin Mining Corp. —which operates mines in Chile, Argentina, Brazil, U.S., Portugal and Sweden—and Lucara Diamond , which operates the Karowe diamond mine in Botswana.

Randy Smallwood, CEO of Wheaton Precious Metals Corp. , which finances mine projects through streaming agreements, adds that securities regulations in Canada give Canadian-listed companies a transparency that investors value because it reduces risk, even if those companies happen to operate in places that are inherently risky.

There are also deep roots in Vancouver when it comes to mine financing. The Vancouver Stock Exchange—founded in 1907—always had a heavy focus on mining and mineral exploration. In 1999, it became part of the Toronto Stock Exchange’s venture exchange, which remains heavily weighted with junior mining companies. Forty per cent of the world’s publicly listed mining companies are listed on the TSX or TSX Venture exchange.

One recent cautionary tale is the Cobre Panama mine owned by Vancouver’s First Quantum Minerals . The massive copper mine—reportedly built at a cost of $8 billion—was recently shut down by the Panamanian government after the country’s Supreme Court ruled the mine concessions to be unconstitutional.

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