The Australian state of Western Australia (WA) has been ranked the top jurisdiction in the world for mining investment based on investment attractiveness, an annual survey has found.
The survey attempts to evaluate how mineral endowments and public policy factors affect exploration investment, with 290 respondents providing sufficient data to assess 84 jurisdictions around the world in 2021.
The state’s low percentage of negative responses from mining executives, relatively good policy performance, and geological attractiveness are the main reasons given for why WA performed so well on the overall Investment Attractiveness Index.
Considering policy performance alone, known as Policy Perception Index (PPI), WA remained Australia’s highest-ranked jurisdiction, and despite its policy score decreasing by two points, the state went from number 11 in the world in 2020 to number 4 in 2021.
WA performed especially well in the areas of geological database and security, with no respondents saying either of these discouraged investments, as well as political stability and trade barriers, for which only five percent of respondents indicated this deterred investment.
In terms of time taken to receive exploration permits, 50 percent of respondents for Western Australia said they were able to secure them in less than two months, with only nine percent saying it took six months or more, which was the lowest percentage across all surveyed jurisdictions.
The company president of an exploration company that has remained anonymous in line with the survey protocol commended WA, saying, “The online portal for tenement application, report submissions, and work permits is clear, logically structured, and highly efficient.”
The Epoch Times reached out to WA’s Minister for Mines and Petroleum for comment but had not received a response at the time of publication.
Meanwhile, South Australia (SA) was ranked 10th most attractive jurisdiction overall for mining investment and, in terms of policy alone, maintained its rank of 16th despite a near 8-point decline in its PPI.
SA Minister for Energy and Mining, Tom Koutsantonis, said that over the past ten years, the state has ranked in the top 20 global jurisdictions based on exploration and mining opportunities, as well as ease of doing business.
“South Australia’s consistently high performance in the Fraser Institute Survey is testament to the bi-partisan support industry has had across the political divide,” he said.
“Further, the streamlined processes, de-risked investment opportunities, and data generated by the Geological Survey of South Australia has held the mining and exploration sector’s in good stead.”
