Queensland has dropped from 13th to 39th on the annual index of mining investment attractiveness compiled by the Fraser Institute.
Western Australia is the best ranking Australian jurisdiction on the list, coming in at number 17 based on the 2024 survey compared to four in the previous year.
Finland is the most attractive jurisdiction in the world for mining investment, followed by Nevada and Alaska, according to the Fraser Institute’s Annual Survey of Mining Companies.
“The Fraser Institute’s mining survey is the most comprehensive report on not just a jurisdiction’s mineral potential, but also government policies that either attract or discourage mining investors,” report co-author Elmira Aliakbari said.
Ms Aliakbari is the director of the Centre for Natural Resource Studies at the Fraser Institute, an independent Canadian policy think-tank.
This year’s report ranks 82 jurisdictions around the world based on their geologic attractiveness (minerals and metals) and government policies that encourage or deter exploration and investment.
Rounding out the top five jurisdictions on the overall Investment Attractiveness Index, which includes both mineral endowment and policy, are Wyoming and Arizona.
The least-attractive jurisdiction on the Investment Attractiveness Index is Ethiopia, followed by Suriname, Niger, Nova Scotia, and Mozambique.
“A sound, predictable regulatory regime coupled with competitive fiscal policies make a jurisdiction attractive to investors,” Ms Aliakbari said.
“Policymakers across the globe should understand that mineral deposits alone are not enough to attract investment.”
Queensland ranked 37th out of 82 jurisdictions on the Fraser Institute’s policy perception index and 29th out of 58 jurisdictions for mineral potential.
All Australian states and the Northern Territory decreased their investment attractiveness and policy perception index scores compared with 2023.
On the policy perception index, New South Wales (-20.86 points) and Queensland (-16.36 points) experienced the most significant declines.
In their evaluations of Queensland, miners expressed increased concern about uncertainty surrounding disputed land claims (+29 points), uncertainty concerning the administration, interpretation and enforcement of existing regulations (+25 points), and regulatory duplication and inconsistencies (+22 points).
“Some mines recommended for approval by state authorities were blocked at the last minute by the federal government, creating uncertainty and deterring investment,” an executive from a producing company with more than $US50 million said of the situation in Queensland.
“Environmental approvals for simple, low-impact shallow drill programs have been delayed, creating uncertainty and deterring investment,” an exploration company executive commented.