afrol News, 6 October - Botswana and Namibia appear in top 10 individual countries with least risk for resource sector investment, World Risk Survey has discovered.

A press release issued by group yesterday shows this year's survey covered 74 countries and included individual African nations, with wooden spoon banging on Zimbabwe out of 74 countries surveyed.

First-time participant, United Kingdom came in 14th just behind Greenland report shows.

“In overall list of 74 countries, Australia, broken down into individual states and territories, South Australia was ranked second, Northern Territory fifth, New South Wales, sixth, Tasmania, seventh, Queensland, 10th and Victoria and Western Australia, 11th and 12th respectively,” it further says.

Survey, first conducted in 1992, and distributed to more than 3,000 senior mining and oil and gas industry executives worldwide canvassed company executives to rate various countries across 10 categories of risk including sovereign risk, civil unrest, natural disasters and labour relations with investment risk rating of 0 being no risk and 5 being maximum risk.

Ranked number one in 2004, as world's least risky country, Australia dropped to fifth position in 2005, recovered to fourth in 2006 and fell dramatically to eighth last year, media report says.

It further shows that this year, in addition to listing Australia as an entity, survey for first time separated individual Australian states to identify their respective risk performance measurements, a tool that could also work well in most African states, separating them by regional and conflict zones.

“This year's survey showed that South Australia with its pro-uranium mining State Labor Government and PACE (Programme for Accelerating Exploration) initiative had been ranked second with a score of 7.6 behind the number one placegetter Finland which scored 7.4,” report state.

It adds that proactive resources jurisdictions, Canada and Botswana came in third and fourth respectively with Northern Territory, New South Wales, Tasmania coming in fifth, sixth and seventh while Queensland was ranked 10th behind United States and Sweden.

Western Australia, generally regarded and touted by politicians as Australia's commodity powerhouse finished a dismal 12th in the overall classification, media report says.

It concludes that, “land access, green and red tape, land claims and labour relations saw state finish last of Australian jurisdictions".

By staff writer

© afrol News

Related pages and feature

Current afrol News Top Stories