Western Australia’s mining investment attractiveness has dropped from fourth to 17th in a recent global survey, which CCIWA Acting co-CEO Aaron Morey said should be a “wake-up call” to governments.
The Fraser Institute’s Annual Survey of Mining Companies 2024 evaluated 82 jurisdictions on mineral potential and government policies that encourage or deter exploration and investment.
WA has previously ranked among the top scorers – first place in the 2021 survey, second for 2022 and fourth in 2023.
Top ranks in the 2024 survey were:
- Finland
- Nevada, USA
- Alaska, USA
- Wyoming, USA
- Arizona, USA
- Sweden
- Saskatchewan, Canada
- Newfoundland & Labrador, Canada
- Guyana
- Norway
Morey said the absence of any Australian jurisdiction in the top 10 should ring alarm bells for all levels of government.
“Our global competitiveness is under threat from a bloated approvals regime that is scaring off investors,” he said.
“This report calls out the lengthy delays being experienced by projects. In every Australian jurisdiction, more than 20% of companies said permit approval times had ‘lengthened considerably’ in the past decade.
“Australia and WA in particular is in a global race for capital, and we simply can’t afford to allow investment to head overseas because of excessive red and green tape.”
Results explained
The survey included three indexes – WA fell across all of them:
| 2024 | 2023 | |
| Investment Attractiveness Index | 17th | 4th |
| Policy Perception Index | 18th | 17th |
| Best Practices Mineral Potential Index | 13th | 1st |
“Respondents expressed increasing concerns over Western Australia’s uncertainty concerning disputed land claims, regulatory duplication and inconsistencies, and its taxation regime,” the report stated.
In response to the survey, a consulting company president referred to WA, saying: “Requiring separate reporting on tenement rent and council rent, with combined reporting not accepted, creates unnecessary complexity and deters investment.”
WA ranked third in the Australia and Oceania region – behind New Zealand and the Philippines.
More action needed at Federal level
Morey said CCIWA welcomed the WA Government’s efforts to improve the State-based approvals regime and its review of cultural heritage processes.
He said the biggest challenges for industry were at a Federal level which “are weighing heavily on WA’s reputation as a place to invest”.
“The Commonwealth’s review of Federal environmental laws are an opportunity to begin to rectify this significant challenge facing our country,” Morey said.
To find out more about what we stand for, visit our Policy and Advocacy page.
