International news within the industry of mining and metal, May, 22 2019
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Billions of Canadian mining claims may affect Finland

Canadian owned mine. The Laiva deposit is located in Raahe, Finland and is one of the largest gold resources in the region. The mine is a conventional open pit mine with 2 pits. Photo: Nordic Gold Inc.
Canadian owned mine. The Laiva deposit is located in Raahe, Finland and is one of the largest gold resources in the region. The mine is a conventional open pit mine with 2 pits. Photo: Nordic Gold Inc.
Published by
Markku Björkman - 11 Mar 2019

The position of Canadian mining companies will improve when the Free Trade Agreement between Canada and the EU enters into force. The risk comes from the investment protection paragraph of the contract.
Finland may face big bills in the future as the position of Canadian mining companies improves after the entry into force of the CETA Free Trade Agreement between the European Union and Canada.

The purpose of the investment protection under the agreement is to ensure that the treatment of Canadian investments in the EU is equal and fair in relation to European investments, says Professor of International Law Kati Kulovesi of the University of Eastern Finland. The same would apply to the treatment of investments from Canada in Canada.

The agreement is essential for Finland, especially in the mining industry, as more than half of the international listed companies are from Canada. There are also several Canadian companies operating in Finland, such as Agnico Eagle, which runs a gold mine in Kittilä.

Although the agreement contains other things, it is precisely the investment protection that has aroused fear of the consequences in Finland.

Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat
Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat

Chinese control half of the Congo's cobalt