Botswana has been ranked among the world’s top ten most attractive mining jurisdictions, according to the latest Annual Survey of Mining Companies released by the Fraser Institute, a respected Canadian policy think tank.
The survey places Botswana seventh globally on the Investment Attractiveness Index, which measures a jurisdiction’s appeal to mining investors based on both mineral potential and the quality of government policies. The result reinforces Botswana’s reputation as one of Africa’s most stable, investor-friendly mining destinations.
Nevada claimed the top position in the 2026 rankings, followed by Ontario and Saskatchewan. South Australia and Arizona completed the top five. China ranked last overall, making it the least attractive jurisdiction for mining investment among the 68 regions assessed worldwide.
“The Fraser Institute’s mining survey is the most comprehensive report on not just a jurisdiction’s mineral potential, but also government policies that either attract or discourage mining investors,” said Elmira Aliakbari, director of the Institute’s Centre for Natural Resource Studies and co-author of the report.
The annual survey evaluates jurisdictions on geological attractiveness, such as the presence of minerals and metals, as well as policy factors including regulatory certainty, taxation, and fiscal competitiveness. According to the Institute, strong mineral endowment alone is not sufficient to attract sustained investment.
“A sound, predictable regulatory regime coupled with competitive fiscal policies make a jurisdiction attractive to investors,” Aliakbari said. “Policymakers across the globe should understand that mineral deposits alone are not enough.”
“A sound, predictable regulatory regime coupled with competitive fiscal policies make a jurisdiction attractive to investors,” Aliakbari said. “Policymakers across the globe should understand that mineral deposits alone are not enough.”
Botswana’s strong showing reflects its long-standing political stability, clear regulatory framework, and consistent mining policies, which have helped position the country as a global benchmark for good governance in the extractive sector.
Rounding out the top ten jurisdictions on the Investment Attractiveness Index were Western Australia, Norway, Sweden, and Saudi Arabia. At the bottom of the rankings, alongside China, were Burkina Faso, Egypt, the Philippines, and Mali.
On policy factors alone, Nevada ranked first, while China again placed last.
The Fraser Institute is an independent, non-partisan public policy research organization with offices across Canada and links to a global network of think tanks. It does not accept government research grants in order to maintain its independence.
