Foreign ore prospectors land in Finland

Finland becomes European hotspot for prospecting of ore and minerals

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In a short period of time, Finland has become the mineral and ore prospectors' number one target in Europe.
      Currently, there are 33 prospecting companies operating in Finland, only a couple of which are of domestic origin.
      The companies are interested in Finland's exploitable gold, uranium, platinum, copper, nickel, zinc, and diamond reserves.
     
"Currently, prospecting in Finland is on a wider scale than anywhere else in Europe. Our closest competitor is Sweden", points out the Ministry of Trade and Industry's chief inspector of mines, Krister Söderholm.
      According to Söderholm, prospecting companies invest EUR 30-40 million a year in finding ore deposits in Finland.
     
The number of claim applications received by the Ministry of Trade and Industry speaks volumes for the ore prospectors' excitement.
      During the first two months of 2006 alone, prospecting companies have turned in 248 claim applications at the ministry, 40 of which have already been approved. According to the ministry, all of the applications came from prominent and reputable prospecting and mining companies.
      There are currently no less than 750 valid claim reservations waiting to be processed by the ministry.
      Söderholm claims that there is a world-wide boom taking place in the ore and mineral prospecting industry. Prices of different metals are at record levels, and there is an outright shortage of some raw materials.
      Finland's old bedrock provides excellent possibilities for finding ore and minerals. It is said to have the same potential as the bedrock in Canada and Australia, two mining industry giants.
      "Apart from fossil fuels, the ground in Finland is rich in more or less everything", Söderholm summarises.
     
New mines will spring up in the eastern and northern parts of the country, in particular.
      "If the largest planned undertakings materialise, this can create up to 2,000 new jobs", Söderholm believes.
      This would be a most welcome development in a situation where industrial jobs are rapidly disappear ing to countries of cheap labour. "Ore deposits cannot be moved. They stay where they have been for the past two billion years. Even ore enrichment is cheapest close to the mines", notes Söderholm.
     
International prospectors marvel at Finland's unique situation.
      The operating environment and infrastructure here is great, and altogether unfamiliar for prospectors. They can live in decent hotels rather than tents, and can drive to the vicinity of their target locations.
      "If something is found, Finland is full of technical know-how to support further investigations. The ore and minerals are often found in uninhabited locations, and yet, there is already a road there", Söderholm explains.


Previously in HS International Edition:
  Diamond rush expected in Finnish Karelia (28.2.2006)

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