The Yukon has fallen slightly from favour with the mining and exploration industry, though most are still willing to court the territory.

Results of the annual industry survey by the Fraser Institute show the Yukon in 2013 was the 19th most attractive jurisdiction in the world to do business out of 112 based on its policies governing mining and exploration.

In 2012, it was eighth out of 96.

"I think being 19th out of 112 jurisdictions definitely indicates the Yukon is still attractive to global mining investment,” Alana Wilson, co-author of the survey, said this morning in an interview from her office in Vancouver.

Sweden's policies rated number one, ahead of those in Finland, and Alberta was in third.

Under the category of investment attractiveness overall, the Yukon fell from first in 2012 to eighth last year.

The senior economist with the Fraser Institute explained the survey doesn't aim to document every issue the industry is dealing with in each jurisdiction, but rather is more general in nature.

Of those who responded, however, several highlighted the 2012 Court of Appeal decision regarding mineral staking in the Ross River area as a negative deterrent, both in the Yukon and across Canada because of its implications for the rest of the country, she said.

The court decision found that the Yukon government has a legal obligation to consult with the Ross River Dena Council before allowing mineral staking in the Ross River area.

The decision forced the government to rewrite the territory's mining legislation.

One unidentified vice-president of an exploration company quoted briefly in the survey called the impact of the decision a regulatory "horror story.”

The president of a producing company with more than $50 million US in annual revenue said in regard to the Yukon: "Duplication of permitting requirements, permitting timeline deterioration, inability of mine operators to acquire permits for modified or evolving mine plans in a timely manner.”

The 134-page report says of the 4,100 surveys sent out to mining and exploration companies around the world, responses were received from 690.

"The companies participating in the survey reported exploration spending of US$4.6 billion in 2012 and US$3.4 billion in 2013,” says the survey.

Wilson said companies were not asked to provide anticipated expenditures for exploration work this year, though "we did have quite a few negative comments concerning the investment climate for exploration right now.”

Spending on exploration in the Yukon has fallen off sharply since the all-time high of $300 million in 2011.

The survey by the Fraser Institute asked several different questions, ranging from available labour to taxation.

Falling from eighth to 19th when it came to policies that may affect investment decisions, the Yukon was behind Alberta in third out of 112, New Brunswick in seventh and Newfoundland-Labrador in ninth.

It was, however, tops in the country and seventh overall regarding a company's willingness to invest based purely on the geology.

Less than 20 per cent of the 690 respondents mentioned the Yukon's taxation regime as a mild deterrent.

Only New Brunswick scored higher in the area of taxation while more than 45 per cent said they would not invest in Venezuela because of its taxation policies.

On the other hand, the Yukon scored in the bottom third among respondents who were asked if the uncertainty of disputed land claims was a deterrent, with approximately 20 per cent suggesting it was a strong or absolute deterrent.

The Yukon scored near the middle of the pack on the issue of uncertainty associated with protected areas.

There was some concern with the infrastructure available in the territory but little concern regarding political stability.

When it came to labour relations and employment agreements, the Yukon scored fourth of 112 and the highest in Canada.

Based on available scientific data regarding the territory's geology, the Yukon scored 14th, but seventh in Canada. B.C. scored the highest and third of the 112.

See related mining story and letter.