Australia has once again cemented its position as one of the world’s most attractive destinations for mining investment, with several states ranking among the top jurisdictions globally in the Fraser Institute’s latest Annual Survey of Mining Companies.

The 2025 survey, widely regarded as one of the mining industry’s most influential benchmarking reports, ranked jurisdictions based on their overall investment attractiveness, combining mineral potential with policy perception factors such as regulatory stability, taxation regimes and infrastructure.

Among the 68 jurisdictions evaluated worldwide, Australia delivered a strong collective showing, with five states and territories placing in the top 35.

South Australia and Western Australia emerged as standout performers, both securing places in the global top ten.

South Australia ranked fourth overall, marking a dramatic improvement compared with previous years and placing the state among the most attractive destinations worldwide for exploration investment.

Western Australia followed closely behind in sixth place, reinforcing its long-standing reputation as a mining powerhouse.

The state has historically performed strongly in the Fraser Institute rankings thanks to its vast mineral endowment and relatively stable regulatory environment.

Queensland also delivered a solid performance, ranking 13th globally and remaining one of Australia’s most competitive jurisdictions for mining investment.

Tasmania recorded one of the most notable improvements in the survey, climbing significantly to reach 17th place globally.

The jump highlights growing industry confidence in the state’s mineral potential and regulatory environment.

New South Wales, while improving compared with the previous year, ranked 28th overall, positioning it in the middle of the global pack.

The Northern Territory followed slightly behind, ranking 33rd globally.

Victoria was the lowest-ranked Australian jurisdiction in the survey, placing 49th out of 68 jurisdictions.

Despite an improvement compared with its previous ranking, the result suggests ongoing concerns among mining executives regarding policy settings and exploration conditions in the state.

Overall, Australia’s performance underscores the country’s continued importance as a global mining investment destination.

The Fraser Institute survey combined its metrics of the investment attractiveness index and the policy perception index, where the investment factor incorporates both geological potential and government policy, weighting mineral potential at 60 per cent, and policy factors at 40 per cent.

The results demonstrate that jurisdictions able to combine strong mineral resources with supportive policy frameworks remain best positioned to attract exploration spending.

Globally, Nevada in the US once again secured the top position in the rankings, followed by Ontario and Saskatchewan in Canada.

South Australia and Western Australia’s placements among the top ten highlight Australia’s competitive standing alongside leading North American mining jurisdictions.

For Australia, the survey’s results provide both encouragement and insight for policymakers.

While several states continue to rank among the world’s best mining jurisdictions, the disparity between top-performing regions and those further down the list highlights the influence of regulatory frameworks, permitting processes and broader policy stability on investment decisions.

As global competition for exploration capital intensifies, maintaining a supportive policy environment will remain critical if Australia is to retain its position as one of the world’s premier mining destinations.

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