As per ResourceStocks magazine Australia is the 7th best nation for mining in the world. The annual World Risk Survey results were released on Thursday. They show an amazing leap from 26th place for Australia in 2010 to 7th place in 2011.
The ranking of the potential risk scores are made by more than a thousand professionals in the sector. The risks that the survey covered fall under 11 different heads such as financial risk, sovereign risk, land access, green tape, land claims, red tape, social risk, infrastructure, civil unrest, natural disasters and labour relations.
Each factor was giving a high risk score and the maximum possible high risk total was pegged at 34. The lower the risk score the better the country was to mine in. Australia came up with a risk score of 11.8 to come in at the 7th place.
The best nation for mining as per the ResourceStocks magazine survey was Finland with a risk score of 7, followed by Chile at 9.7, and Burkina Faso at 11.2 in second and third place respectively. Other nations in the best top ten included Botswana and Sweden at 11.3, U.S.A. at 11.4, Brazil at 11.9, Canada at 12.4 and Argentina at 13.1.