Fraser Institute’s Annual Survey of Mining Companies: 2015, has ranked Western Australia at the top of its list of the world’s most attractive mining investment destinations.
The survey, which is available for download here, ranks WA in front of Saskatchewan, Nevada, Ireland, Finland, Alaska, Northern Territory, Quebec, Utah and South Australia.
Commenting on the results of the survey, Mines and Petroleum Minister Bill Marmion said the State Government’s innovative resources policies and red tape reduction played a key role in claiming the top spot on the list.
“There is never a bad time to be the world’s best, but it is particularly important at this stage in the resources cycle,” Mr Marmion said.
“This is a win-win situation for responsible development and all West Australians. Investor confidence means projects are more likely to get the financial go-ahead, which means more jobs to build Western Australian communities. What really hits home are quotes from industry, praising the streamlining of landmark mining projects that are now supporting major employment.”
According to the Minister, one respondent was quoted as saying “mines have gone from discovery to production faster than anywhere in the world”, whereas another respondent praised the support of the State Government and local communities.
“We are processing approvals in record times, while driving new discoveries through our $130 million Exploration Incentive Scheme, WA’s significant investment in research and technology, and the creation of Australia’s biggest core library,” the Minister said.
“The benefits of our world-leading Mining Rehabilitation Fund are also flowing through, cutting costs and encouraging rehabilitation, after returning $1.1 billion to the industry from the old bond system.”
Mr Marmion said that while the State Government had put a lot of effort in red tape reduction and innovation to boost resources industry confidence, it had also upheld the highest environmental standards.