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The 2022 Fraser Institute Annual Survey of Mining Companies has ranked the Northern Territory as a potentially strong and appealing location for mineral exploration.

The Fraser Institute Annual 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.

The 2022 survey ranked the Northern Territory (NT) as a leading jurisdiction globally for mineral potential, and is ranked the sixth most attractive jurisdiction in the world on the Investment Attraction Index.

The previous year saw Western Australia claim the top jurisdiction in the world position for investment based on the Investment Attractiveness Index. The state has now fallen to second place.

Minister for Mining and Industry Nicole Manison said the NT ranking in the survey was great news.

“This is exciting news and presents huge economic and strategic opportunities for the Northern Territory as a supplier of minerals to support the global transition to a decarbonised economy,” Manison said.

“These latest figures show that the world has stood up and is noticing the Territory’s potential – and that can only mean more jobs for Territorians as we head towards a $40 billion economy by 2030.”

The news of the Northern Territory’s mineral potential and investment comes as the Northern Territory Minerals Development Taskforce released its report which found that while the NT has world-class mineral deposits, it is under-explored.