Hon Norman Moore BA DipEd JP MLC

Hon Norman Moore BA DipEd JP MLC

Former Minister for Mines and Petroleum; Fisheries; Electoral Affairs

    WA among world best resources destinations

    29/09/2011 12:00 AM
    • WA resources sector tops low risk investment rating in Australia
    • WA’s reputation improved steadily over the past four years
    • Australia ranked seventh most attractive destination in the world
    Western Australia has been reaffirmed as a global resources hotspot by a leading survey rating as a top investment destination in the nation and positioning it as equal third in the world.

    The Resourcestocks magazine’s 2011 World Risk Survey rated WA at 10.4, to share first place with South Australia and Novia Scotia in the Australian States and Canadian Provinces survey. WA’s rating was up from last year’s second place rating of 15.9.

    Mines and Petroleum Minister Norman Moore said the rating was extremely significant for the State’s international reputation as an attractive destination to invest.

    “In 2008, WA had the lowest rating, but the following year the State climbed to sixth spot, before hitting second place last year behind South Australia, now we are equal first,” Mr Moore said.

    “WA’s strong resources sector is the backbone of the nation and it is supported by a progressive Government that encourages new investment.

    “A lot of work has been done to promote exploration and improve the approvals systems and technology support for online services for the resources sector, which is all reflected by WA’s improved rating.

    “It is very pleasing to see that since this Government came to power in 2008, WA has continued to become an increasingly popular mining and petroleum investment destination.”

    New South Wales’ survey rating was 10.6 and the Northern Territory was at 11, while Queensland (14.2) was deemed the riskiest investment destination in Australia.

    More than 1,000 resource sector professionals were surveyed to rank jurisdictions according to perceived risks in areas such as financial, social and sovereign risk; land access and claims; green and red tape; infrastructure; civil unrest; natural disasters; and labour relations.

           Fact File

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