The mining industry
In 2013, there was a total of 46 mines and quarries regulated under the Mining Act operating in Finland. The volume of metal ores extracted continues to increase, as new mines are getting established and start production. The excavated volumes of industrial minerals have stayed at the previous years' level. Investments in exploration went down dramatically year-on-year. This is explained by a slump in the demand for metals and their prices and the uncertain economic situation.
In 2012, several mining projects were in progress. Metallic mining and the related industry has shown growth and export potential. Mining operations have had a positive impact on employment, particularly in Eastern and Northern Finland. The Government has promoted mining industry with a variety of measures, including training of skilled personnel, construction of roads and railways, and providing funding for research.
At the development stage, mining projects require capital. Insufficient domestic funding has been available for the mining sector: the majority of investments have come from international sources in recent years.
Exploration and mining companies are regulated under the same tax legislation as all other companies in Finland. Tax models for the mining sector differ in different countries. The Finnish model resembles that of other Nordic countries. Read more about business financing in the pages of Industry Investment, Finnvera and Centres for Economic Development, Transport and the Environment.
(Making Finland a leader in sustainable extractive industry, abstract in English)Figure 2. Industrial mineral and gemstone mines in 2011 (jpg) (572.1 KB)