PERTH (miningweekly.com) - Australia Northern Territory has been ranked the most attractive state in the country for mineral exploration and development by the Fraser Institute, which named Canada’s New Brunswick as the single best jurisdiction in the world for mining.

Ranking 11th out of the 93 jurisdictions surveyed, the Northern Territory’s ranking had improved from 27th out of 79 just a year earlier.

Western Australia proved the second-most popular Australian destination for mining investment during 2011/12, ranking 12th, while South Australia ranked 19th, Queensland 28th and Tasmania 13th. New South Wales and Victoria were ranked 32nd and 44th, respectively.

The Fraser Institute’s yearly Policy Potential Index measures the effect of government policies on mineral exploration. The index takes into account existing regulations, environmental regulations, regulatory duplication, native title claims, socioeconomic agreements, labour issues, security and geological data.

As far as mineral potential was concerned, the Fraser Institute ranked Western Australia as the tenth out of the 93 jurisdictions surveyed, while South Australia was placed 14th and the Northern Territory 22nd.

South Australia has also been rated as one of the least corrupt jurisdictions of those surveyed.

Canada’s New Brunswick snatched the title as the most attractive jurisdiction for mineral exploration, jumping from last year’s position as 23rd.

Of the 93 jurisdictions the survey covered, Finland, Alberta, Wyoming, Quebec, Saskatchewan, Sweden, Nevada, Ireland and Yukon all made it into the top ten.
 

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