Territory ranked BEST in the world for mineral potential
Australia's Northern Territory has ranked as the leading jurisdiction in the world for mineral potential, according to the latest Fraser Institute Annual Survey of Mining Companies (2022).
In addition the Northern Territory has moved into the top 10 in the world for its attractiveness for exploration and mining investment.
This is a massive jump of 17 places in just 4 years, with the Northern Territory now ranked as the sixth most attractive jurisdiction in the world on the Investment Attraction Index.
Mineral exploration and production in the Territory has soared in the last few years.
Figures released at the end of last year showed mineral production in the Northern Territory was the second highest value ever recorded.
For the 2022 financial year, the total value of mineral production was $4.86 billion, up 14% from the 2021 figure of $4.28 billion.
Mineral exploration expenditure has also shot up in the Northern Territory by almost 30% in the 2022 calendar year.
For the 2022 calendar year mineral exploration expenditure was $198.6 million - up from $153.4 million in 2021.
The Fraser Institute survey is a global survey of mining and exploration companies that ranks more than 60 jurisdictions worldwide for their attractiveness for investment.
The Investment Attraction Index rates regions based on their geologic attractiveness as well as measuring the effects of government policy on attitudes toward exploration investment.
For the full results and report, go to the Fraser Institute website.