The latest release of the Fraser Institute’s Annual Survey of Mining Companies has confirmed Australia is the world-leading destination for mining investment.
Australia ranked No.1 of all countries with Western Australia ranked the highest of any mining region in the world.
The report ranks mining regions on their geological potential and investors’ perceptions of policy to provide an overall rating of investment attractiveness.
Australia has again rated favourably against our competitors, with five states ranked inside the top twenty mining regions in the world.
The report also notes that Australia continues to be the most attractive region in the world for mining investment based on an average of all states; however, it also highlights that all states experienced a deterioration in their ratings of policy perception.
There is an urgent need for governments to address this slide.
Australia cannot continue to rely on its geological potential alone to attract investment with key competitor regions for mining investment in Canada and the United States being more favourably viewed on their policy settings.
Policies that deliver globally competitive tax rates, greater regulatory certainty particularly in streamlining environmental assessment and approvals between the Australian Government and states, more workplace relations flexibility and increased government funding for pre-competitive exploration programs are all essential to mining’s long-term future and Australia’s economic prosperity.
