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Finland Ranked #1 Country for Mining Companies

The Fraser Institute Annual Survey of Mining Companies has been published and ranked Finland as the #1 country for mining. Taxand Finland takes a look at what this means for the sector.

The survey depicts how mining and exploration companies assess impact of mineral endowments and public policy factors across 96 countries worldwide such as taxation and regulation on mining and exploration investment.

Finland ranked #2 last year out of 96 and has been in the top 10 for the last 4 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 #2 and #10 respectively. Greenland was ranked #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.

Discover more: The Fraser Institute Annual Survey of Mining Companies 2012/2013

Your Taxand contact for further queries is:
Janne Juusela
T. +358 9 6153 3431

Taxand's Take

A total of 742 company responses were received for the survey, providing sufficient data to evaluate 96 jurisdictions. This survey acts as guidelines for investing in the global mining industry, highlighting where sufficient policy is in place in certain jurisidictions and therefore are 'safe' countries to invest in mining. Many countries are debating the introduction of mining tax, if they don't have it already. Multinationals in the mining sector should investigate the tax policies relevant to their business.

Taxand's Take Author

Janne Juusela