South Australia has become the sixth most attractive jurisdiction in the world for mining investment, according to the Fraser Institute Survey of Mining Companies 2019.
The state was placed outside of the top 20 (24th) in the 2018 survey, marking a significant improvement rate.
According to the 2019 survey, South Australia’s new ranking is its highest position since 2015.
Last year, the South Australian Government reintroduced $10 million “accelerated discovery initiative”, which the South Australian Chamber of Mines and Energy (SACOME) lobbied for.
A boost in exploration activities within the state is expected with this initiative.
“The sharp rise in South Australia’s investment attractiveness is a positive result for the industry and an encouraging sign for exploration activity, project development, future job creation and overall exports,” SACOME chief executive officer Rebecca Knol said.
“This result will provide positive momentum for the South Australian resources sector, which is already the engine room of the South Australian economy and drives innovation and employment for the state.
“The South Australian resource sector already employs 26,000 people directly and indirectly, delivers $6.4 billion in production, $5.8 billion in exports and $299 million in royalties to South Australians.”
South Australia is the second highest ranked jurisdiction in Australia for mining investment, with Western Australia taking the top spot.