Finland has a strong history of mining, yet remains under-explored and highly prospective in key areas, particularly for gold. There is a new round of discovery underway and Firefox has a competitive edge to identify the next economic gold deposit. With a leading land position, the Firefox team has the experience and local knowledge to capitalize on the many advantages that exploring in Finland has to offer:
- Strong mining tradition and mining law
- Extraordinary access & Infrastructure
- Strict but clear mining and environmental legislation
- Low corporate tax (20%)
- Downstream industry and proximity to major markets
- Ranked as #1 jurisdiction in the world for mining investment attractiveness for 2017, by the Fraser Institute
- Long history in base metals exploration and mining but significant gold mining only since 2009
- World-leading public geoscience digital/online databases from the Geological Survey of Finland (GTK)
- Untested analogues to great gold belts of Canada
- Central Lapland Greenstone Belt (CLGB) comparable in size to the Abitibi belt of Canada
- CLGB is very immature and under-explored for gold (~30 years of exploration vs 100 years in Abitibi)
- High-grade showings over a large area
- New discoveries in the CLGB highlighting the gold prospectivity
Land Tenure System in Finland
In Finland, the “Everyman's Right” gives public access to all land, allowing geological mapping, limited sampling and prospecting to be carried out everywhere, provided that no damage is done to a landowner's property or to the environment.
If more detailed studies or security of tenure are required, there are three main categories of land title for mineral activities in Finland: Reservation Notification, Exploration Permit or Mining Permit.
A Reservation Notification is valid for up to 24 months, and gives priority for applying for an Exploration Permit, but does not prevent others from prospecting in the reserved area. Minor exploration surveys are allowed without landholder approval.
An Exploration Permit is required for more extensive exploration, including drilling, and requires paying set fees to the landholder on a per hectare basis. Exploration Permits are valid for 4 years and may be extended for a up to three years at a time to a maximum of 15 years.
A Mining Permit allows mining and the use of minerals and their by-products. Compensation to landowners includes an annual fee per hectare and a royalty of 0.15%.