Fraser Institute report highlights State's attraction for business investment

The 2010-11 Fraser Institute survey results have further enhanced Western Australia's international standing as a destination of choice for investment in the mining industry.

The internationally respected survey ranked the State in the top 20 mining jurisdictions of the world for attracting investment. This year, WA was ranked 17 out of 79 jurisdictions, up two places from last year.

Mines and Petroleum Minister Norman Moore said the results were very pleasing, especially considering the uncertainty surrounding the Federal Government's proposed mining tax.

"The State Government's reforms to the approvals process have offered greater transparency and certainty for industry and this was reflected in the latest survey's results," Mr Moore said.

"Overall, the survey contained some positive feedback regarding the transparency and reliability of our approvals process.

"The State Government and the Department of Mines and Petroleum (DMP) have worked diligently to restore WA's reputation as the nation's leading State to attract business in the resources industry.

"An important part of this process is DMP's proactive role in assisting proponents through the entire approval process and liaising with other agencies where required."

The Minister said the reforms had helped improve the State's attractiveness as a preferred destination for investment.

"The State Government and DMP will look to build on this momentum," he said.

The survey also ranked WA as the most attractive Australian jurisdiction for mineral potential - ranking it at eight overall for mineral potential, compared to 19 last year.

"State Government initiatives such as the $80million Exploration Incentive Scheme, funded by the Royalties for Regions program, play an important role in demonstrating the potential for discovery of a wide range of mineral commodities that continue to attract investment in WA exploration," Mr Moore said.