27/02/2020 - 15:50

WA tops global mining destinations

27/02/2020 - 15:50

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Western Australia is the top jurisdiction in the world for mining investment, moving up from second place a year earlier, according to a recent survey from the Fraser Institute.

WA tops global mining destinations
Western Australia placed first in the survey, receiving a score of 92.45.

Western Australia is the top jurisdiction in the world for mining investment, moving up from second place a year earlier, according to a recent survey from the Fraser Institute.

The annual Survey of Mining Companies assesses how mineral endowments and public policy factors, such as taxation and regulatory uncertainty, affect exploration investment.

Responses from approximately 2,400 individuals have ranked destinations according to the extent public policy factors influenced mining investment during 2019.

WA placed first on the ranking, receiving a score of 92.45, ahead of Finland (92) and Nevada (87.5), with the US state displaced after taking out top mining destination in 2018.

It is the first time WA has led the ranking since 2015.

South Australia ranked sixth, behind Alaska (fourth) and Portugal (fifth).

WA had 116 mining projects between 2018 and 2019, according to the latest statistics from the Department of Mines, Industry Regulation and Safety (DMIRS).

The department said WA also comprised hundreds of quarries and small mines that largely produced the basic raw materials required for the local construction industry, such as clay, sand, limestone and gravel.

The survey release comes at the same time the DMIRS announced it would cut assessment timeframes for exploration program work applications from 30 to 15 business days, starting July 1.

Mines and Petroleum Minister Bill Johnston said cutting the timeframes in half could save more than 39,600 processing days for these applications each year.

He said the federal government would continue to streamline its regulation of the resources sector to “reduce barriers, increase productivity and support jobs”.

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