Australia has been rated the best place in the world to invest in mining according to a report by international mining industry advisory firm, Behre Dolbear.
Australia’s robust economy and political stability were ranked highly by the report, however our strong currency was noted as an area to be monitored.
Australia narrowly beat out Canada for the top spot with Chile, Brazil and Mexico also making the top 5.
Surprisingly for some, Australia was ranked as the best country in the world for speeding up the permit approvals process. The countries with the most delays were the United States and Papua New Guinea.
According to the report, Australia also had the least mining corruption in the world, beating Canada and the United States to take out top spot.
Behre Dolbear said the mining tax was also a concern in Australia and abroad, and officials in “almost every minerals-producing nation” had been considering raising mining taxes and fees.
“The inspiration for these efforts may have been bolstered by Australia’s actions over the past year to increase taxes both directly and indirectly on mining operations.”
Russia came last in the report, with Mozambique and D.R Congo rounding out the bottom three.
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