Confidence In Wab Kinew’s Government Crashes

Let’s stop pretending we’re still in the game.

The latest Fraser Institute Annual Survey of Mining Companies makes one thing crystal clear: Wab Kinew's Manitoba is no longer viewed as a serious place to invest in mining. That’s not political opinion. That’s the verdict of 350 mining executives, analysts, and industry leaders evaluating 82 jurisdictions around the world. And their judgment? Manitoba is trending in the wrong direction—fast.

In 2023, Manitoba ranked 6th globally on the Investment Attractiveness Index. In 2024, we fell to 26th. On policy perception alone—arguably the clearest indicator of investor confidence—we dropped from 3rd to 43rd. Not just out of the top 10. Not just out of the top 20. We’re now sitting near the bottom half of global jurisdictions, rubbing elbows with places investors actively avoid.

Let that sink in. A twenty-point fall in investment attractiveness. A forty-point collapse in policy perception. These are not normal year-over-year fluctuations. These are red flags. Manitoba has gone from being a leader to being a liability.

And we’re not alone. Canada, once considered a global leader in mining stability and investment potential, is slipping. Quebec, which was ranked in the global top ten for four straight years, just plummeted to 22nd. The reason? Declining confidence in its policies and regulatory landscape.

But at least Quebec still makes the top 25. Manitoba doesn’t.

Even more damning, the same survey confirms that Manitoba has one of the top ten mineral endowments in the world—meaning we have the natural resources that investors want. But when those same investors are asked about our policies, red tape, and regulatory clarity, we fall to 43rd place.

So, the minerals are in the ground. But the policies above ground are driving investment away.

Saskatchewan, on the other hand, is doing it right. It ranked #1 in Canada and remains in the top tier globally. Newfoundland & Labrador also landed in the top ten. Why? Because they’ve figured out how to provide certainty. They’ve shown investors that their provinces are places where deals can be made, permits can be issued, and timelines respected.

Manitoba? We’re telling investors: go somewhere else.

The industry’s concerns are specific and consistent: ongoing uncertainty around land claims, protected areas, and environmental regulations; regulatory duplication and inconsistency; and the lack of clear, timely decision-making. Add in the opaque handling of appeals and the influence of activist pressure, and it’s no surprise investors are heading for the exit.

British Columbia and Yukon are in the same boat—strong on mineral potential, weak on policy. But Manitoba stands out because of how quickly we’ve fallen. We didn’t just drift down the rankings. We nosedived.

This should concern everyone in Manitoba, not just those working in mining or development. Mining investment is foundational to northern and rural communities. It creates infrastructure, boosts local economies, and supports public revenues that fund healthcare, education, and core services. When that investment dries up, so does growth.

Meanwhile, Manitoba is relying more and more on borrowed money to fund an ever-growing list of government commitments. The “social cart” is being pulled by fewer and fewer economic horses—and the ones left are being asked to run uphill with less support and more red tape.

The only sustainable way to fund social programs is with economic activity. That means private sector growth. That means mining. That means investment. And that means building a reputation as a place where smart, efficient, and fair policy exists—not where confusion reigns.

It’s not about deregulation. It’s about professional regulation. Clear rules, predictable outcomes, and a credible review process. No surprises. No political games. No sudden policy shifts. If you want long-term capital, you need to create long-term certainty. Saskatchewan gets that. Newfoundland & Labrador gets that. Manitoba, clearly, does not.

It’s time to fix that.

We need to overhaul how Manitoba presents itself to the world. That starts with addressing the barriers—unnecessary duplication, vague timelines, activist-led roadblocks, and a lack of independent review in environmental appeals. It means professionalizing the decision-making process. It means giving investors clarity and giving communities a real say—openly and transparently.

It also means listening to the people who actually create jobs, not just the people who shout the loudest. Right now, activist pressure groups are dominating the discussion. They show up, make noise, and influence decisions that affect all of us. And because many businesses don’t show up—don’t speak publicly—they’re losing by default.

That must change.

If Manitoba wants to compete, it has to show up on the global stage with a clear message: we’re open for business. Not just on a billboard. Not just in a press release. But in how we write policy, issue permits, and treat investors. Because right now, that message is not getting through.

Here’s the proof again: 43rd out of 82 on policy perception. 26th overall, with a mineral endowment ranked among the top ten globally. That’s a self-inflicted wound. And the longer we ignore it, the more lasting the damage will be.

Manitoba’s economic future depends on turning this around. Because you can’t feed a province on debt, you can’t create growth by rejecting your strongest sectors. And you can’t build confidence with slogans and social media posts.

Saskatchewan is winning. Newfoundland is competing. Manitoba is falling behind. The numbers don’t lie. It’s time to act like it.