International news within the industry of mining and metal, Apr, 24 2019
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The mining companies should pay more for Finnish minerals, politicians think

One should never laugh at Finnish bureaucrats. Now the foreigners get production tax, which means that the tax is calculated on the basis of the refined ore transported from the mining area. Photo: Creative Commons, Photo: Niekveriaan
One should never laugh at Finnish bureaucrats. Now the foreigners get production tax, which means that the tax is calculated on the basis of the refined ore transported from the mining area. Photo: Creative Commons, Photo: Niekveriaan
Published by
Markku Björkman - 14 Jan 2019

Finnish Broadcasting company, Yle's latest opinion poll shows that most of the parliamentary parties want to see a new mining tax in Finland. Six parties want the mining companies to pay more for the minerals they extract.

The international mining companies have got their eyes on Finnish natural resources. In Yle's opinion poll, the question was asked:

Should one use a mining tax or equivalent compensation in Finland so that the mining companies pay more for the minerals they extract?

On this question, the Center, the SDP (Socialdemocrats), the Greens, the Left Union, the Christian Democrats and the Blue replied "yes" while the National Party and SFP replied that the matter should be investigated before they take a position on the matter.

How would that be realized?

Yle also asked the parties how this would be realized. There are several alternatives, but in practice, five different tax models apply.

Most support among the parties receives a production tax. SDP and the Christian Democrats support this model. In addition, the Center and Left Federation see it as an alternative.

Production tax means that the tax is calculated on the basis of the refined ore transported from the mining area.

Another proposal that receives support is a so-called  ”breaking the surface tax”. With this model, one would tax the amount of stone that is broken on the quarries.

This model receives support from the Greens and the Left Federation considers it an alternative.

Last but not least, another model is proposed where, for example, additional fees would be added in connection with the property tax. The fees would be paid by the mining companies and go either to the state or the municipality.

The party called the true Finns also participated in the survey but replied that a new mining tax is not needed - on the other hand, the current remuneration should be reallocated.

The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199
The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199

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Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver
Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver

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The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB

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