11/03/2014 - 13:29

WA takes top gong for resources investment

11/03/2014 - 13:29

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Western Australia has been ranked as the world’s most attractive jurisdiction for investment in the resources sector, based on the state's geology and its improved policy settings.

WA takes top gong for resources investment

Western Australia has been ranked as the world’s most attractive jurisdiction for investment in the resources sector, based on the state's geology and its improved policy settings.

WA edged out Nevada, in the US, and Newfoundland and Labrador, in Canada, to be named the most attractive jurisdiction, according to the Fraser Institute’s Survey of Mining Companies 2013.

WA claimed the top spot, up from fourth position in the previous year, from Yukon, in Canada, which slipped down to eighth position out of 112 jurisdictions.

The overall ranking was based on responses to two surveys - WA placed second in the mineral potential index, which is based on perceptions of a jurisdiction’s geology, and ranked sixth in the policy perception index, which measures the overall policy attractiveness.

The accolade as the world’s top jurisdiction for resources investment is a marked improvement from just five years ago when the state placed 17, out of 72, in the 2009-10 index.

“These positive results reinforce that WA has what it takes to be globally competitive, but we know our work is far from done and it is important not to be complacent,” Mines and Petroleum Minister Bill Marmion said.

“Increasing competition for global capital means that without the right policies, companies will simply look elsewhere to develop resource projects.”

The results were collated from 690 respondents, comprising executives and management, from exploration and mining companies from around the world.

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