RESOURCESTOCKS World Risk Survey has placed Australia as the fourth country in the world with the least risk for resource sector investment.
The survey covered 74 countries and included individual African nations. First-time participant, United Kingdom came in 14th just behind Greenland. Of the African nations, only Botswana and Namibia figured in the top 10.
In the overall list of 74 countries, Australia, broken down into individual states and territories, South Australia was ranked second, the Northern Territory fifth, New South Wales, sixth, Tasmania, seventh, Queensland, 10th and Victoria and Western Australia, 11th and 12th respectively.
The survey, first conducted in 1992, and distributed to more than 3,000 senior mining and oil and gas industry executives worldwide canvassed company executives to rate various countries across 10 categories of risk including sovereign risk, civil unrest, natural disasters and labour relations with investment risk rating of 0 being no risk and 5 being maximum risk.
Ranked number one in 2004, as the world’s least risky country, Australia dropped to fifth position in 2005, recovered to fourth in 2006 and fell dramatically to eighth last year.
This year, in addition to listing Australia as an entity, the survey for the first time separated individual Australian states to identify their respective risk performance measurements.
This year’s survey showed that South Australia with its pro-uranium mining State Labor Government and PACE (Programme for Accelerating Exploration) initiative had been ranked second with a score of 7.6 behind the number one placegetter Finland which scored 7.4.