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Finland (FREE SAMPLE)

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

Moderate
Regulatory Risk

Regulatory Corruption Risk

Low
Regulatory Corruption Risk

Corruption Exposure Risk

Very Low
Corruption Exposure Risk
Regulatory Risk Rating Factors Risk Level
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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
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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

Moderate
Regulatory Risk

Regulatory Corruption Risk

Low
Regulatory Corruption Risk

Corruption Exposure Risk

Very Low
Corruption Exposure Risk
Regulatory Risk Rating Factors Risk Level
First Come / First Served 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

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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