Mining Investments in Finland


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Future of Sustainable Mining. Finland as a preminum mining destination in Europe. Mining deposits and projects.

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Mining Investments in Finland

  1. 1. Mining Investments in Finland A Holistic Approach PhotoEijaHiltunen©EndominesOy
  2. 2. 0 2 000 4 000 6 000 8 000 10 000 12 000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 '000tonnes Industrial minerals & rocks Metals and metallurgical products Metal concentrates FINNISH MINE PRODUCTION Source: GTK Welcome to Finland; Europe’s major producer of Chromium and Gold, with operating mines producing copper, cobalt, feldspar, limestone, nickel, phosphate, pgms, quartz, silver, talc and zinc. Finland has a strong mining tradition, a competitive present and is striving for a green future! In Finland, mining is part of the economic, political and social life, making it a beneficial experience for everyone involved! From exploration to operations and markets to mine closure, the Finnish government offers a complete package to support mining investments. • The Geological Survey of Finland (GTK) is a global leader in providing data, testing and consulting services on the mineral deposits in the country. • The Finnish Industry Investment Ltd, owned by the state, partners with private investors, funding small to large mining operations and suppliers in the mining cluster. • Tukes, The Finnish Safety and Chemicals Agency, administrates all permits and licenses. • Tekes, the Finnish Innovation Agency invests and partners in research for sustainable mining, pushing the frontiers in green mining technology. “The government of Finland strongly promotes economic activities that are based on our diverse mineral resources and our expertise and innovation in the mining sector.” FINNISH STATE INVESTMENTS • €60 million – Green Mining program (2011–2016) • €70 million – Mining infrastructure investments • €30 million – allocation for “start-ups” in 2012 • €610 million – Current state ownership in the mining cluster Finland – Invest in the future of Sustainable Mining
  3. 3. MINING INVESTMENTS CONTINUE TO GROW AT ALL LEVELS Finnish Deal Flow (projects by numbers) Source: FII estimates BY 2020, FINLAND AIMS TO BE THE GLOBAL LEADER IN SUSTAINABLE MINERAL INDUSTRY Source: GTK 70 million tonnes 4 million tonnes 2000 2004 2008 2012 2016 2020 Finland as the Premium Mining Destination in Europe STABILITY WITH EXPERIENCE Finland offers the potential for new discoveries and also one of the safest and most secure countries for mining investment in the world. Ranked highly by global mining surveys, Finland has con- sistently scored amongst the top countries for mining policy and the clarity of its regulations. While it has a long tradition of mining, its mineral codes are relevant and up-to-date, receiving praise for transpar- ent and fair legal processes, and timely and efficient administration. FISCAL FAIRNESS Finland aims to make mining a profitable venture for those who pursue it, with no royalties payable to the state, com- petitive taxation regimes and a relevant and fair mining code. The state supports mining investments, firmly believing that mining operations should be in the hands of the private sector. THE STATE AS AN INVESTMENT PARTNER The state, through the Finnish Industry Investment and Solidium Oy, provides direct and indirect funding for the mining cluster, investing in mines at the development stage, as well as in firms providing services and products for the mining sector. The state co-invests with private investors, under the same terms and conditions, and withdraws from projects as they become viable. ADDRESSING EU’S SUPPLY SECURITY Within the European Union, where mining activity has declined over the years, Finland stands out for its expand- ing mining sector. With increasing concerns within the European Union of high dependence on imports for important raw materials, Finland offers the opportunity for enhancing Europe’s supply security. The country’s reserves and resources cover more than half of the critical minerals listed by the EU Raw Materials Initiative.
  4. 4. THE GTK & GEO SERVICES Geological Survey of Finland (GTK) assists mining operations from providing digital materials for exploration to research laboratories and environmental impact assessments. Its expert services extend beyond mining, supporting location specific energy needs of opera- tions, assessing land use and construc- tion and even offering experimental and new ways of understanding nature’s entities, through Nature Tourism. FINLAND MINING FACT SHEET • 52 operating mines • Over 55 projects at conceptual/ prefeasibility • €81 million in exploration (2011) • €1.3 billion mine development investments (2008–2011) • €3 billion mine development investments (2012–2017) • €80 million turnover in mines (2010) • €2.5 billion turnover in mines (in 2015) • 30,000 employees in the mineral cluster • Large unexploited deposits remain GREEN MINING – THE PATH TO SUSTAINABLE MINING Finland believes that mining can be and should be a green industry and with its Green Mining program, it aims to achieve just that. The Green Mining program combines stakeholders from the mineral sector and the technology industry and services sector to identify new mineral resources and intelligent, minimum-impact mining. The pro- gram develops techniques that can help to reduce the environmental impacts of mining. The long-term goal is to develop methods by which an increasing share of mining activities can take place underground. Underground activities would enable environmentally friendly operation for example in urban areas and nature preserves. Environmental and social aspects are taken into account throughout the mining project from exploration to landscaping after mine closure. STRONG SUPPORT CLUSTER Finland’s mining industry receives strong support from its world class service providers and equipment manufacturers. And the competitive- ness does not stop at mining; Finland has an excellent service infra- structure, allowing for the outsourcing of mine development functions. Finnish mineral processing plants and metal production are highly com- petitive with regards to energy efficiency and their carbon footprint. Mining Potential Meeting Your Investment Needs Photo Anton Kalland © Tekes
  5. 5. Land Tenure 12 February 2013 Claim/ore prospecting permit Mining Concession Reservation atinum Oy d Oy Oy Oy land) Ltd p. d Oy . erals Ltd Oy Mining Inc. V. ng Co. rp. ona Mining Ltd na Mining Ltd Ab Mine Prospect 2 3 0 10050 km 2 34 5 7 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 1 2 3 4 1 2 3 4 5 6 7 8 9 10 11 12 1 3 4 5 6 2 1 MINING DEPOSITS & PROJECTS • 30–40 exploration companies active • Iso-Kuotko – Gold • Suhanko–Konttijärvi – PGE • Taivaljärvi – Silver • Sakatti – Nickel, Copper and PGE • Mustavaara – Vanadium
  6. 6. Invest in Finland, Finpro ry Porkkalankatu 1 FI-00181 Helsinki, Finland tel: +358 204 695 555 fax: +358 204 695 201 Business opportunities and consulting services for international companies WHAT TO EXPECT IN FINLAND • ACCESS TO GEO-DATA • UP-TO-DATE MINING CODE • STATE AS AN INVESTMENT PARTNER • EXTENSIVE INFRASTRUCTURE • STRONG SUPPORT SERVICES • R&D IN GREEN TECHNOLOGY • HIGHLY SKILLED WORK FORCE • TRANSPARENT GOVERNMENT • PROCESSING COMPETITIVENESS • FISCAL FAIRNESS