In the 2015 Annual Survey of Mining Companies report released by Canada’s Fraser Institute, Australia ranked number one in the world for mining investment potential – despite the global resource industry experiencing a downturn.
AUSTRALIA ON TOP
Australia’s ranking is helped by its long history of successful mineral exploration and mining projects which have traditionally attracted a large percentage of global exploration investment.
Respondents to the Fraser Institute survey, undertaken between September and November 2015, indicated that about 60 per cent of their mining investment decisions are determined by mineral potential.
PRO-ACTIVELY FACING THE CHALLENGES
CEO of the Australian Government’s geology and geography organisation, Geoscience Australia, Dr Chris Pigram, said the endorsement demonstrates Australian minerals exploration potential.
“Exploration has become more costly and technically difficult because new discoveries will inevitably be more deeply buried than the minerals that have already been found,” Dr Pigram explained.
To address the challenges of geologically complex mineral exploration, which requires specialist mining equipment, technology and a high level of geological expertise, The Australian Government launched theUNCOVER initiative– aimed at helping mining companies untap potentially vast deposits that extend deep under a thick layer of sediment or cover.