Australia’s mining sector rated best in the world

Leading US mining consultancy Behre Dolbear has rated Australia the best place in the world for mining investment for the fourth year running.

Scoring highly on economic and political stability, Australia easily fought-off its closest competitor Canada, with Chile, Brazil and Mexico rounding out the top five.

Contrary to some mining industry rhetoric, Australia was the best country in the world for cutting down permit delays, with Tanzania and Mexico coming in at second and third.

The countries with the most delays were the United States and Papua New Guinea.

According to Behre Dolbear, Australia also had the least mining corruption in the world, beating Canada and the United States to take out top spot.

However, like last year, Australia's rising dollar was marked as a concern.

“While not enough to change its rating, Australia’s inflation is beginning to be a concern,” the report stated.

Behre Dolbear said the mining tax was also a concern in Australia and abroad, and officials in "almost every minerals-producing nation" had been considering raising mining taxes and fees.

"The inspiration for these efforts may have been bolstered by Australia’s actions over the past year to increase taxes both directly and indirectly on mining operations."

Overall Behre Dolbear found Australia to be significantly ahead of any other region in the world for mining investment, especially in its handling of economic, political, and social issues.

Russia came last in the report, with Mozambique and D.R Congo rounding out the bottom three.

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