Australia ranked in global mining report

24 May, 2024

Industry bodies have shared their perspectives on the mixed outcomes of the Fraser Institute’s 2023 Survey of Mining Companies report.

Report Overview

The report evaluates how mineral endowments and policy factors influence exploration investment attitudes globally. It ranks jurisdictions based on overall investment attractiveness, mining policy attractiveness, and geological attractiveness.

This year, 293 respondents provided data on 86 jurisdictions.

Top Jurisdictions

According to the report, Utah is the top jurisdiction for investment, followed by Nevada, Saskatchewan, and Western Australia in fourth place. WA ranked first in the Best Practice Mineral Potential Index category but dropped to 17th in the Policy Perception Index.

Industry Reactions

Western Australia

WA’s reputation as a mining stronghold should not be taken for granted, noted the Association of Mining and Exploration Companies (AMEC).

“The Fraser Institute Survey was conducted in August last year, at the height of public debate over recently introduced Aboriginal Cultural Heritage laws,” said AMEC chief executive officer Warren Pearce. “The impact that has had on WA’s policy perception index is quite clear. To drop from 4th a couple of years ago to 17th is a concern. Policies that undermine certainty will deter investment.”

South Australia

South Australia is now ranked 20th on the Policy Perception Index, down from 3rd in 2022, and 22nd on the Best Practice Mineral Potential Index, an improvement from 24th in 2022.

The SA Chamber of Mines and Energy (SACOME) highlighted the need for innovative policy measures to improve the state’s global ranking.

“South Australia’s decline in ranking reflects a broader decline across the Australian resources sector, noting that for the first time since 2019, Australia is not ranked as the most attractive region in the world for mining investment,” said SACOME chief executive officer Rebecca Knol. “South Australia’s ratings drop highlights the need to adopt facilitative measures put forward by SACOME, including a SA resources sector economic heatmap and infrastructure corridors, and development of a state Critical Minerals to Metals Strategy supported by a critical minerals development fund.”


The report underscores the dynamic nature of mining investment attractiveness and the significant influence of policy decisions. Both WA and SA industry bodies call for strategic actions to enhance their positions and attract sustained investment in their mining sectors.