Mining Sector Thrives in Saskatchewan, Finland Tops Worldwide Ranking
Finland Tops 2024 Fraser Institute Mining Survey, Boosting Global Investment Attractiveness
Finland has claimed the top spot in the Fraser Institute's 2024 Annual Survey of Mining Companies, marking a significant leap from its 17th position in the previous year. This meteoric rise can be attributed to a combination of high mineral potential, exceptional policy stability, and efficient permitting processes [1][2][3].
The Nordic country's rise to the top signifies a substantial improvement in its mining investment climate, driven by decades of deliberate policy development, geological exploration, infrastructure investment, and balanced environmental stewardship. Finland's policy consistency and regulatory predictability have made it particularly attractive compared to the regulatory uncertainties faced in other jurisdictions [1][2][3].
In contrast, the United States features prominently with four states in the global top 10, reflecting a competitive mining environment supported by generally stable policies and mineral potential. However, none surpassed Finland in overall attractiveness, partly due to Finland’s exceptional policy clarity and regulatory stability that investors prize [1][2][3].
Canada, once a mining powerhouse, saw a dip in its rankings, mainly due to political gridlock, complex Indigenous land claims, fragmented permitting processes, changing environmental regulations, taxation concerns, and bureaucratic hurdles that have eroded investor confidence. Only Saskatchewan and Newfoundland & Labrador remain in the top 10 globally, with other provinces like Ontario and Quebec falling in the rankings [2].
Saskatchewan, Canada's top-performing province, ranked 7th overall, while Newfoundland & Labrador landed at 8th globally. However, Yukon took more than 11 months to obtain exploration permits for 75 percent of respondents, and Manitoba ranked 43rd in overall investment attractiveness [2].
Nevada secured the second place in the overall investment attractiveness, followed closely by Alaska in third place. Alaska's strong performance can be attributed to its efficient permitting processes, competitive fiscal policies, and robust mineral potential [2].
Meanwhile, Canadian provinces were the only high-income jurisdictions to appear in the bottom 10. Victoria and Queensland in Australia recorded delays exceeding 11 months for 60 and 50 percent of respondents, respectively, while the Northern Territory in Australia had only 9 percent of respondents obtaining permits within two months [2].
Nova Scotia ranked near the bottom alongside Ethiopia, Suriname, Niger, and Mozambique, with 60 percent reporting similar delays in permit acquisition, compounded by unresolved land disputes and opaque environmental rules [2].
The Fraser Institute emphasizes that mineral deposits alone do not attract investment—a sound, predictable regulatory regime and competitive fiscal terms are critical. Finland’s policy consistency and efficient permitting processes have made it particularly attractive compared to the regulatory uncertainties faced in Canada and the US states [1][2][3]. This holistic approach, taking into account geology, governance, and community/environmental balance, sets Finland apart as the most favored global mining investment jurisdiction in 2024.
[1] https://www.fraserinstitute.org/studies/investment-attractiveness-of-mining-projects-2024 [2] https://www.fraserinstitute.org/studies/mining-investment-2024 [3] https://www.fraserinstitute.org/studies/policy-perception-index-2024
- Recognizing the attractiveness of Finland in global mining investment, individuals might consider gold investing as part of their education-and-self-development in lifestyle management, taking into account the country's exceptional policy consistency, mineral potential, and efficient permitting processes.
- In the realm of general news, the latest Fraser Institute Mining Survey revealed that Finland's strides in technology and policy implementation, such as its advances in permitting processes and environmental stewardship, have significantly boosted its attractiveness to investors, highlighting the convergence of technology and investment in today's global economy.
