Legal Alert – Finland Scored no. 1 in the Fraser Institute Annual Survey on Mining Friendly Jurisdictions
Finland was ranked no. 1 in the Fraser Institute Annual Survey of Mining Companies. The survey depicts how mining and exploration companies assess impact of mineral endowments and public policy factors such as taxation and regulation on mining and exploration investment.
Finland ranked no. 2 last year and has been in the top 10 for the last four years. The past year has involved a significant domestic increase in the public discussion on mining, in particular environmental topics but also demands for an increased state involvement in the mining sector and a potential implementation of a mining tax. Similar new environmental and social topics have been encountered also in Sweden and Norway, which ranked no. 2 and 10 respectively. Greenland was ranked no. 14. This discussion in the media and politics does not seem to have affected this year’s results for the Nordic countries. Apparently the result reflects a continued reliance among the interviewed companies on the pragmatic and long term commitment of Nordic governments and societies to encourage mining friendly policies. Should the outcome of these discussions cause concerns for future exploration and mining investments this may well be reflected in the upcoming years results.