Finland Outshines Canada in Latest Fraser Mining Report

Policy clarity and regulatory stability put Finland back on top, while Canada struggles with political gridlock and permitting woes.

Editorial Team (ET)July 30, 2025

Finland is back on top. After more than a decade away from the spotlight, the Nordic nation has reclaimed its title as the world’s most attractive jurisdiction for mining investment, according to the Fraser Institute’s 2024 Annual Survey of Mining Companies. Once again, geology and governance have aligned in Helsinki’s favor, setting the tone for what could be a seismic shift in global mining strategies.

The survey, which ranks 82 global regions based on a combination of mineral potential and public policy, has long been the industry’s trusted barometer. This year’s report, however, sends a resounding message. Finland isn’t just back—it’s dominating. Trailing behind are Nevada and Alaska, followed closely by Wyoming and Arizona. Meanwhile, Canada, long a powerhouse in the sector, is struggling to hold onto its former glory. Saskatchewan and Newfoundland and Labrador are the only two Canadian provinces to secure spots in the top 10, and even they slipped in rankings compared to previous years.

Canada’s decline is not due to a lack of geological riches. It’s political and regulatory uncertainty that’s chasing investors away. Indigenous land claims, fragmented permitting processes, and changing environmental rules are clouding the country’s appeal. Yukon, British Columbia, and Manitoba all possess high mineral potential, yet they languish in the lower half of the rankings once policy is factored in. Ontario slid to 15th and Quebec plummeted from fifth to 22nd, reflecting mounting concerns over taxation and bureaucratic roadblocks.

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