WA will remain a top investment area
Western Australia is one of the top mining investment areas in the world with no signs of backing down, according to a recent report.
Western Australia was overall ranked equal 11th, with the Northern Territory, out of 93 jurisdictions found The Fraser Institute Annual Survey of Mining Companies 2011/2012 report.
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This was a jump up of six places from last year’s results, while South Australia slid from 11th to 19th. Queensland jumped 10 spots to 28th.
Western Australia also ranked 10th when relating directly to current mineral potential.
State minister for mines and petroleum Norman Moore said that the results were pleasing, but not surprising.
“WA’s reputation as the nation’s leading State when it comes to attracting exploration and mining has been solidified again, thanks to the hard work of the State Government and the Department of Mines and Petroleum,” Mr Moore said.
“The State Government’s reforms to the approvals process have offered greater transparency and certainty for industry and this was reflected in the latest survey’s results.”
Regulatory duplication and inconsistencies, taxation regime, and uncertainty concerning disputed land claims, were the only questions where any survey respondents indicated that for Western Australia they “would not invest due to this factor”.
“State Government initiatives such as the $80 million Exploration Incentive Scheme, funded by Royalties for Regions, play an important role in demonstrating the potential for discovery of a wide range of mineral commodities,” he said.
Approximately 5,000 exploration, development, and other mining-related companies around the world responded to the survey.