Barrick Mining Corp (NYSE: B), Newmont Corporation (NYSE: NEM), and Rio Tinto (NYSE: RIO) operate across global mining markets, but all contend with growth pipelines increasingly shaped by slow or unpredictable permitting across key jurisdictions, whether in gold, copper, or battery metals. In contrast, Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) operates in Newfoundland, which a recent permitting survey1 indicates it has shorter approval timelines than many other jurisdictions, a factor that may influence the pace of early-stage exploration activities.
Permitting has quietly become a binding constraint for large producers such as Barrick, Newmont, and Rio Tinto. Even with strong balance sheets and rising commodity prices, majors cannot accelerate timelines in jurisdictions where environmental reviews, social license, or regulatory approvals remain unpredictable. The result is often delayed development, longer capital lock-up, and increased scrutiny from investors assessing the growth profiles of even well-capitalized portfolios. In Mexico, for example, over 160 mining projects are currently stalled due to missing environmental permits and lack of clarity under the country’s new mining law. This is a regulatory bottleneck threatening more than US$4 billion in investment, according to the Mexican Association of Mining Engineers (AIMMGM)2.
This widening gap in permitting efficiency is reflected in recent jurisdictional comparisons. According to the Fraser Institute’s 2024 Annual Survey of Mining Companies1, Newfoundland and Labrador stands out as one of the fastest jurisdictions in the world for exploration permitting. In the survey, 86% of respondents said they expected to receive necessary permits, licenses, or notices of work in two months or less, a timeline unmatched by any other surveyed region. This contrasts sharply with many other global jurisdictions, where permitting can extend beyond a year. For exploration-stage companies and investors alike, faster permitting can significantly improve capital efficiency and project momentum, especially in early-stage asset development.
Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) provides an example of how jurisdictional permitting timelines can support efficient exploration. At its 100%-owned Wilding Gold Project in central Newfoundland, adjacent to Equinox Gold’s Valentine Mine, the company has reported multiple high-grade drill results across successive exploration programs. The fall 2025 drill program confirmed a robust, multi-zone gold system with standout intercepts like 31.5 m at 10.89 g/t Au at the Elm Zone and shallow high-grade hits at Alder3. In a market where permitting timelines can extend exploration schedules in some jurisdictions, the company’s location allows for more regular testing of targets, which may influence how investors view the timing and risk profile of early-stage exploration programs.
Barrick Mining (NYSE: B, TSX: ABX) illustrates how permitting and regulatory complexity can tie up capital, even for the world’s largest gold producers. In 2025, its Loulo‑Gounkoto complex in Mali faced significant disruption after a dispute over Mali’s revised mining code, which introduced changes to royalties and permit conditions, led to permitting delays, suspended exports, and temporary loss of operational control. The issue was resolved4 only after Barrick dropped arbitration and agreed to a ~$430 million settlement5. For investors, the takeaway is clear: having large reserves or future development potential is not the same as delivering near-term growth. Barrick’s pipeline includes jurisdictions where permitting timelines are shaped by external regulatory forces, which can delay projects regardless of gold price incentives.
Newmont (NYSE: NEM, TSX: NGT) has faced recent permitting and regulatory delays that have affected project timelines. A permitted gold project in Peru remains stalled; as of late 2025, the site had become a target for illegal miners due to prolonged inaction6. Despite having regulatory approvals in place, development has not advanced due to unresolved social and political dynamics. For investors, this highlights that paperwork alone is not enough, when permitting timelines are shaped by community resistance or shifting government processes, even technically advanced projects can face indefinite delays.
Rio Tinto (NYSE: RIO) (ASX: RIO) (LSE: RIO) offers another example of how permitting uncertainty can delay even strategically significant projects. In Serbia, Rio Tinto’s $2.95 billion Jadar lithium project has entered a care and maintenance phase7 as the company reassesses costs and resources. Although the European Commission designated Jadar as a strategic project for Europe’s energy transition in 2025, development remains stalled due to the lack of permitting progress and sustained public resistance. Rio Tinto has emphasized its continued presence in Serbia and its intent to retain legal rights over the project. In the United States, the company’s Resolution Copper project in Arizona, jointly developed with BHP, remains delayed after the US Forest Service withdrew its Final Environmental Impact Statement in 2021 to allow further consultation with Native American tribes8. Both cases show how permitting timelines, political discretion, and social license can override technical readiness, affecting project momentum even in mature jurisdictions.
In short, Barrick, Newmont, and Rio Tinto highlight how permitting, social license, and regulatory risk increasingly constrain large-cap growth. Canterra operates in a jurisdiction with permitting timelines that, based on available data, are shorter than in many other regions, which may affect the cadence of exploration activity. As permitting timelines stretch, investors are increasingly weighing time-related risks when evaluating jurisdictions and growth pipelines.