Newfoundland and Labrador has been named as the most attractive jurisdiction for mining investment in Atlantic Canada, and the 21st-most attractive worldwide—but some concerns remain that could hamper mining investment.

That’s according to a new survey released by the Fraser Institute.

The report ranks 84 jurisdictions around the world based on natural resources including minerals and metals, and government policies that encourage or discourage exploration and investment.

The Annual Survey of Mining Companies, 2021 found that Newfoundland and Labrador ranks 21st globally based on the Overall Investment Attractiveness Index.

The survey found that despite NL remaining the most attractive jurisdiction in Atlantic Canada, the province’s Policy Perception Index dropped by almost 13 points this year when considering only policy factors. That includes uncertainty around protected areas and concerns over what they call socioeconomic agreements and community development conditions.