Australia has been named the most attractive region in the world for investment, according to the Fraser Institute’s annual survey of mining and exploration companies.
The aim of the survey is to assess how mineral endowments and public policy factors, such as taxation and regulatory uncertainty affect exploration investment.
Moving from fourth place, Western Australia was named the top destination for investment in the world.
Saskatchewan remained in second place this year. Nevada dropped to third, after Western Australia displaced it as the most attractive jurisdiction in the world. Ireland moved up 10 spots into fourth place.
The Northern Territory and South Australia also landed in the top 10, in seventh and tenth place respectively.
Queensland is the 16th most attractive location to invest, while Tasmania is the 30th, and New South Wales in the 38th spot.
“Australia continues to be an attractive place to invest in mining. The region as a whole surpassed Canada and the United States this year to become the most attractive region in the world for investment when both policy and mineral potential are considered,” a report on the survey, Survey of Mining Companies 2015, said.
“Western Australia was rated to be the most attractive jurisdiction in the world this year based on its Investment Attractiveness score. Northern Territory (7th) and South Australia (10th) were also among the top 10 most attractive jurisdictions in which to invest.
“Only Western Australia appeared in the global top 10 on the Policy Perception Index, coming in at 8th.”
According to the report, New South Wales, South Australia and Victoria experienced declines in their scores this year.
The bottom 10 included La Rioja, Venezuela, Honduras, Greece, Solomon Islands, Chubut, Guinea (Conakry), Kenya, Mendoza, and Rio Negro.
Top 10 Investment Attractiveness
1. Western Australia
7. Northern Territory
10. South Australia
Read the full report here.