Aus­tralia loses top spot

The Australian Mining Review - - NEWS - EL­IZ­A­BETH FABRI

AUS­TRALIA is no longer ranked the most at­trac­tive re­gion for min­ing in­vest­ment in the world af­ter fall­ing to sec­ond place in the 2017 Fraser In­sti­tute sur­vey of min­ing and ex­plo­ration com­pa­nies.

Ac­cord­ing to the Fraser In­sti­tute, Canada was now ranked the most at­trac­tive re­gion in the world for min­ing in­vest­ment, with Fin­land rated the top ju­ris­dic­tion.

WA was the only Aus­tralian ju­ris­dic­tion to ap­pear in the global top 10, how­ever it fell for the third con­sec­u­tive year, drop­ping from first place in 2015, to third in 2016 and now fifth place in 2017 out of the 91 ju­ris­dic­tions.

QLD fell from 10th to 12th place, South Aus­tralia from 13th to 14th place, the North­ern Ter­ri­tory dropped seven places to 27th, and Vic­to­ria dropped 14 places to 71st.

NSW and Tas­ma­nia were the only Aus­tralian States which im­proved their rank­ing, ris­ing to 46th and 50th place re­spec­tively.

As­so­ci­a­tion of Min­ing and Ex­plo­ration Com­pa­nies (AMEC) chief ex­ec­u­tive War­ren Pearce at­trib­uted the re­sults to in­creased red tape, pro­posed roy­alty in­creases and reg­u­la­tory un­cer­tainty across the coun­try.

“The ge­ol­ogy has not changed, but Gov­ern­ments are dam­ag­ing our in­vest­ment at­trac­tive­ness,” Mr Pearce said.

“The re­port high­lights that Aus­tralia’s min­ing and min­eral ex­plo­ration in­dus­try is not im­mune to the neg­a­tive im­pact of reg­u­la­tory and pub­lic pol­icy un­cer­tainty.

“Ul­ti­mately, if pro­cesses are du­plica­tive, costly and slow, com­pa­nies will in­vest in com­pet­ing ju­ris­dic­tions.”

The re­port came days af­ter Aus­tralia’s rank­ing also fell in Trans­parency In­ter­na­tional‘s Cor­rup­tion Per­cep­tions In­dex.

Of the 180 coun­tries stud­ied, Aus­tralia still ranked 13th place, but its CPI score had de­creased again for the sixth con­sec­u­tive year.

“This sug­gests a loss of trust in the Aus­tralian pub­lic sec­tor and the per­cep­tion, at best, that cor­rup­tion has got­ten worse, in only a few short years,” Trans­parency In­ter­na­tional Aus­tralia chief ex­ec­u­tive Ser­ena Lil­ly­white said.

Im­age: Fraser In­sti­tute.

Aus­tralia has fallen to sec­ond place in the 2017 Fraser In­sti­tute’s sur­vey of the world’s most at­trac­tive min­ing re­gions.

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