Australia’s “freefall” in Fraser Institute rankings 

The Fraser Institute has released its 2024 Annual Survey of Mining Companies, with all Australian jurisdictions suffering declines in investment attractiveness and policy perception compared to 2023. 

The overall Investment Attractiveness Index is determined by combining the Best Practices Mineral Potential Index — which rates regions based on their geological attractiveness — and the Policy Perception Index, which measures the effects of government policy on attitudes toward exploration investment. 

The survey was circulated electronically to approximately 2289 individuals between August 7, 2024, to December 15, 2024, receiving a total of 350 responses and allowing for the ranking of 82 jurisdictions around the world. 

Factors such as regulatory duplication and concerns over disputed land claims lowered investment attractiveness across most Australian jurisdictions, according to the South Australian Chamber of Mines and Energy (SACOME).  

This stands in contrast to factors such as political stability and the quality of geological databases which typically increased investment attractiveness scores. 

Fraser Institute Centre for Natural Resource Studies director and co-author of the report Elmira Aliakbari comments on the results. 

“A sound, predictable regulatory regime coupled with competitive fiscal policies make a jurisdiction attractive to investors,” she said. 

“Policymakers across the globe should understand that mineral deposits alone are not enough to attract investment.” 

SACOME chief executive Rebecca Knol comments on South Australia’s standing in the survey. 

“In 2019, Australia was ranked as the most attractive region in the world for mining investment,” she said. 

“Within six years Australia’s favourability has plummeted. 

“The South Australian Government’s focus on speculative industry policy, at the expense of resolving long-standing barriers to industry development is now manifesting as a serious loss of confidence as evidenced by the latest Fraser Institute rankings. 

“South Australia’s ratings freefall highlights the need to adopt facilitative measures put forward by SACOME, including a South Australian Resources Sector Economic Heatmap & Infrastructure Corridors, and development of a State Critical Minerals to Metals Strategy and Energy Transition Roadmap. 

“Such measures can help to distinguish our state as a jurisdiction of choice for investment and SACOME reiterates its commitment to working with the South Australian Government to restore South Australia’s international prominence.”