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South Australia ninth for attractiveness

18th August 2023

     

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South Australia is the ninth most attractive jurisdiction in the world for mining investment, according to independent non-partisan research and educational organisation Fraser Institute’s 2022 Survey of Mining Companies.

Improving from its previous tenth position on the scale in 2021, South Australia and Western Australia, which ranked second most attractive in 2022, were once again listed in the global Top-10 Investment Attractiveness Index, with the Northern Territory also joining the Top 10 list for the first time in sixth position.

Industry association South Australian Chamber of Mines and Energy (Sacome) welcomed the findings, with CEO Rebecca Knol saying South Australia’s ranking as the world’s ninth most attractive state for mining investment is once again a positive result for the region and an encouraging sign for future exploration activity, project development, job creation and overall exports.

The overall Investment Attractiveness Index is constructed by combining the Best Practices Mineral Potential Index – which rates regions based on their geological attractiveness – and the Policy Perception Index (PPI) – which measures the effects of government policy on attitudes toward exploration investment.

South Australia has jumped to the third position on the PPI for 2022, up from being placed sixteenth in 2021, and ahead of Western Australia at an overall tenth position for 2022, and nineteenth on the Best Practices Mineral Potential Index.

“It’s pleasing to see South Australia has increased its PPI scores this year in comparison to results from 2021, with respondents expressing decreased concerns over uncertainty regarding disputed land claims, protected areas and its socioeconomic agreements and community developments,” she says.

The Northern Territory ranked first on the Best Practices Mineral Potential Index, while Western Australia ranked third and Queensland sixth.

“South Australia’s decline in ratings for Best Practices Mineral Potential Index highlights the need for the completion of the South Australian Resources Sector Economic Heatmap and Resources Infrastructure Initiative and a Critical Minerals Strategy for South Australia to ensure development of our State’s mineral deposits are not hampered by infrastructure roadblocks,” notes Knol.

The ranking underlines the ongoing importance of the State government’s Accelerated Discovery Initiative – an exploration incentive which has been extended to 2025 and supports the potential discovery of new mineral and groundwater resources.

“Exploration is critical in ensuring a future pipeline of resources projects and increasing the resources sector’s already-significant economic contribution to the state,” she explains.

In Sacome’s latest economic contribution study, 15 South Australian resource sector companies contributed $10.7-billion to the State economy between 2021 and 2022 – equivalent to 8.3% of South Australia’s gross state product, or $1 in every $12; and supported over 42 832 full-time jobs, or one in every 14 jobs, in South Australia.

Edited by Donna Slater
Features Deputy Editor and Chief Photographer

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