Australia in top ten for global mining

 Australia has been voted the 7th best country in the world to mine, according to a global survey.

The survey was conducted as part of ResourcesStocks magazine’s annual World Risk Survey, according to the International Business Times.

The survey saw Australia jump in the rankings from last year, rising from 26th place in 2010 to its current 7th ranking.

The number one country to mine in was named as Finland.

The ranking is worked out by using potential risks scores provided by more than 1000 resource sector professionals, with the country registering the lowest score for risk ranked higher.

Risks covered a number of areas, predominately financial risk; sovereign risk; land access; environmental issues; land claims; red tape; infrastructure; civil unrest; natural disasters; and labour relations.

Other countries ranked amongst the top ten included Chile, Botswana, Sweden, Brazil, Burkina Faso, and Canada.

In the same survey, Western Australia was ranked as one of the best resources destinations.

According to WA mines minister Norman Moore, the state shared first place with South Australia and Novia Scotia in the Australia States and Canadian Provinces survey.

While this is the second year running South Australia has been ranked as number one, it is a jump for WA, which had the lowest rating three years ago.

“In 2008, WA had the lowest rating, but the following year the State climbed to sixth spot, before hitting second place last year behind South Australia, now we are equal first,” Moore said.

“WA’s strong resources sector is the backbone of the nation and it is supported by a progressive Government that encourages new investment. A lot of work has been done to promote exploration and improve the approvals systems and technology support for online services for the resources sector, which is all reflected by WA’s improved rating.

“It is very pleasing to see that since this Government came to power in 2008, WA has continued to become an increasingly popular mining and petroleum investment destination.”

WA rated a 10.4, similar to South Australia, while New South Wales had a rating of 10.6, the Northern Territory 11, and Queensland deemed the riskiest investment destination for the Australian states with a rating of 14.2.

 

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