Finland
Legislation
- Mining Act 2011
- Decree on Mining Activities 2012
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 |
Finland’s mineral law is well-drafted and structured and is 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 reasonable 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 which investors should be equipped to navigate successfully.
Contents
Legislation
- Mining Act 2011
- Decree on Mining Activities 2012
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
Overview
Iron ore mining in Finland dates back to the 16th century and up until 25 years ago the 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 one of Europe’s largest nickel producers and has the largest cobalt reserves in Europe. It is also a major copper producer and seen as having strong ‘battery minerals’ potential. Green mining and sustainability are currently major programme initiatives for the Finnish government which is exploring improvements in the use of technology and research to lessen the environmental impacts of mining activities and conducting legislative amendments to increase sustainable practises and meet climate objectives. The government is also taking steps to meet the requirements of the Critical Raw Materials Act 2024 (CRMA). In the future, this is likely to involve the establishment of a new permitting agency and processes to streamline and expedite permitting for strategic projects for minerals required to secure Europe’s mineral supply.
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