Finland
Legislation
- Mining Act 2011
- Decree on Mining Activities 2012
- Environmental Protection Act 2014
- EIA Procedure Act 2017
- Decree on EIA Procedure 2017
- Decree on Environmental Protection 2014
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
| Regulatory Risk Rating Factors | Risk Level |
|---|---|
| First Come / First Serve | Subscribe |
| Application Criteria | Subscribe |
| Duration | Subscribe |
| Right to Renew | Subscribe |
| Competing Licences | Subscribe |
| Mineral Coverage | Subscribe |
| Right to Mine | Subscribe |
| Criteria for Mining Rights | Subscribe |
| Tenure | Subscribe |
| Surface Rights | Subscribe |
| Government Take | Subscribe |
| Transfer Rights | Subscribe |
| Change of Control | Subscribe |
| EIA Process | Subscribe |
| Power to Revoke | Subscribe |
| Age of Legislation | Subscribe |
| Other Factors | Subscribe |
| Total | Subscribe |
Finland's mineral law is well-drafted, well-structured and a thoughtful piece of compromise as between the State, indigenous communities, landowners and mineral developers; its stated purpose is "to promote mining ... and exploration, in a socially, economically, and ecologically sustainable manner" and, in our view, it has achieved its purpose, introducing a welcome balance amongst various, possibly competing, interests. In terms of European mining legislation, Finland is amongst the continent’s leaders and is an attractive prospect from a legal risk perspective.
Contents
Legislation
- Mining Act 2011
- Decree on Mining Activities 2012
- Environmental Protection Act 2014
- EIA Procedure Act 2017
- Decree on EIA Procedure 2017
- Decree on Environmental Protection 2014
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
Overview
According to the World Economic Forum, Finland is one of the most competitive countries in the world. It has an industrialised economy, with the main economic sectors of servicing, manufacturing and refining. International trade makes up around one third of the country’s GDP. Finland’s main exports include electronics, paper, wood, steel, cars and refined petroleum. High-tech manufacturing and an increase in high-tech exports have contributed considerably to the country’s economy in recent years.
Iron ore mining in Finland dates back to the 16th century and up until 20 years ago that country’s mining industry was dominated by domestic players, often heavily supported by Finnish government agencies. Today, the country hosts a large presence of international companies and currently exports commercial quantities of iron, copper, nickel, lead and zinc, amongst others. Finland is also Europe’s largest producer of gold and chromium, has the largest cobalt reserves in Europe and is known to have considerable lithium deposits. ‘Green Mining’ is currently a major programme initiative for the Finnish government which is exploring improvements in the use of technology and research to lessen the environmental impacts of mining activities.
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