Queensland has lost ground in the latest global survey of mining companies and investors, falling two places to number 15 in the world for investment attractiveness in the Fraser Institute Annual Survey of Mining Companies, 2019.
Queensland Exploration Council (QEC) Chair Kim Wainwright said it was disappointing to see Queensland’s investment attractiveness ranking decrease for the third year running.
“We can see a slow and steady decline in investment attractiveness since 2016, which now places Queensland as the fourth ranked jurisdiction in Australia.
“Queensland’s minerals potential best practice index increased one place this year to 11th globally, remaining well above Queensland’s historical average.
“The Geological Survey of Queensland also receives high praise from this year’s survey, with Queensland’s geological database ranked 8th in the world and the top Australian jurisdiction.
“We can also see that the policy perception index for Queensland has remained stable at 31st since 2017.
Given Queensland’s improving mineral potential, number 15 in the world for investment attractiveness is a disheartening result for the Queensland exploration industry.
“Despite the Fraser Institute results, the Queensland Exploration Scorecard’s sentiment survey from late 2019 found that explorers remained strongly positive for the ninth year.
“We also saw increased exploration spending expectations in Queensland for the second year in a row, with nearly 60% of explorers stating they will be increasing this spend into 2020. This is a good sign.
“But Queensland must take steps to translate the positivity expressed by explorers into follow up investments in major projects.
“What’s clear is that Queensland geology is highly prospective and Queensland’s major challenge is creating a regulatory environment which is just as attractive as its geology,” Ms Wainwright said.
Media contact: Anthony Donaghy 0412 450 360