The strength of Western Australia’s mining sector was once again highlighted after a recent survey ranked the state as the world’s most attractive investment destination.
Western Australia scored an overall 85.3 out of 100 in the latest Fraser Institute Survey of Mining Companies 2013, managing to stave off competition from the likes of Nevada (84.2) and Newfoundland and Labrador (81.3), which placed second and third respectively.
Mines and Petroleum Minister Bill Marmion praised the achievement but kept his eyes on the future, warning the sector to stay focused in the years ahead.
“These positive results reinforce that WA has what it takes to be globally competitive, but we know our work is far from done and it is important not to be complacent. Increasing competition for global capital means that without the right policies, companies will simply look elsewhere to develop resource projects,” he said.
“WA has a dynamic, world class resources industry which underpins the state and national economies and as minister for mines and petroleum I intend to ensure it remains that way.”
According to Mr Marmion, the state’s world-class practices and standards in mining engineering were big factors in helping it claim top spot. For instance, he singled out comments from the president of an exploration company who earmarked Western Australia’s new Mining Rehabilitation Fund as an “exemplary policy”.
Praise was also reserved for the state’s processes for managing native title approvals. It was practices such as these that undoubtedly helped Western Australia claim second place in the world for the separate Best Practices Mineral Potential Index, Mr Marmion said.
Western Australia’s ability to maintain its reputation as a top global resources hub is no doubt, at least in part, due to the extensive range of mining training programmes available. With mining professionals across the country able to make use of a variety of career development courses, the future of the sector certainly looks to be safe.