Fraser Institute rankings highlight global competition

Queensland has remained in 13th spot in the latest global investment attractiveness ranking from the Fraser Institute Annual Survey of Mining Companies. Overall, Western Australia sits in fourth place out of 86 regions across the world as the most attractive mining jurisdiction, lagging behind Utah in first place, followed by Nevada and Saskatchewan. Queensland Resource Council chief executive officer Janette Hewson said the report confirmed the intense global competition to attract investment in resources projects. "On the question of policy perception, Queensland is still behind other Australian resources jurisdictions and many international competitors, particularly Canada," she said. For a state that was so reliant on the resources sector to drive economic and regional jobs growth, Queensland should be aiming to lead the pack with the world’s best government policies that attracted and encouraged investment, she said. The latest survey saw Queensland shift from 28th out of 62 jurisdictions to 23rd out of 86 on the policy perception index, a 'report card' to governments on the attractiveness of their mining policies. It dropped from sixth place to 12th in the best practices mineral potential index. The survey report noted comments on Queensland including: "The coal royalty increase coupled with a dismissive manner in which the government addressed the industry’s concerns about the lack of consultation." — an exploration company manager "The recent government royalty changes have resulted in a substantial increase in the cost of doing business in Queensland. " — an exploration company president Ms Hewson said Queensland was constantly competing with other states and nations to attract investors, who would simply look to direct their capital elsewhere if they knew the state's policy goal posts could change without warning. The Fraser Institute Annual Survey of Mining Companies was sent to about 2045 exploration, development, and other mining-related companies around the world and received 293 responses. The survey was conducted from August 16, 2023 to January 9, 2024. The Association of Mining and Exploration Companies said the latest survey showed that Western Australia’s stranglehold as one of the most attractive jurisdictions in the world for mining was not to be taken for granted. The latest results show a declining trend in WA in recent years on the policy perception index, dropping from fourth in 2021 and tenth in 2022 to seventeenth in 2023. The result in WA was also felt across the country, with Australia slipping from the top spot as the most attractive jurisdiction in the world for mining investment, to second place behind the United States. With the exception of Queensland and Northern Territory, all Australian jurisdictions decreased compared to 2022, with South Australia dropping almost 16 places and Tasmania falling close to 14 places. “The Fraser Institute Survey was conducted in August last year, at the height of public debate over recently introduced (WA) Aboriginal Cultural Heritage laws," AMEC chief executive officer Warren Pearce said. “The impact that has had on WA’s policy perception index is quite clear. To drop from fourth a couple of years ago to seventeenth is a concern. “Ultimately, Premier Roger Cook, heeded the call of industry and community, and repealed those laws. However, it underscores the lasting negative impact that such policies can have on investment attraction. “Policies that undermine certainty, will deter investment.”

Fraser Institute rankings highlight global competition

Industry Queensland

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