Australia rated best place for mining companies

A leading American mining consultancy has listed Australia the best place for mining companies.

In its annual ranking of countries, Denver-based mining business consultant Behre Dolbear ranked Australia the country posing the least risk for investors. It is the third year in a row Australia has been ranked this way by the consultancy.

The ranking is compiled through an internal survey of 150 Behre Dolbear’s analysts across its 12 global offices. It is based on seven criteria which include a country’s economic and political system, the degree of social issues affecting mining, levels of bureaucracy and corruption, the competitiveness of a country’s tax policy as well as the stability of its currency. The higher the score given to each criterion, the more stable a country is for investment.

Australia received a score of 57 out of 70. The next highest-rated countries were Canada (52) and Chile (51).

Australia received an eight out of ten for its ability to manage the social issues relating to mining – the highest score for that criterion. When it came to the economic system measure, the report states “Australia’s rating was almost lowered by one point due to continued government interference.” Nonetheless, Australia was awarded a nine, which was unchanged from last year.

The lowest ranked countries were Russia, Bolivia, DRC, Kazakhstan and South Africa. The United States’ rating fell one point (to 41) “due to the continued stalemate in its congress; the influence of powerful lobbying organisations and NGOs tilting the playing field”