Sweden’s attractiveness as a mining country has increased significantly

The Canadian think tank Fraser Institute conducts an annual survey targeting the mining industry. The survey evaluates a variety of factors, including how attractive different countries are for mining investment. In this year's survey, Sweden is ranked sixth, which is a significant increase compared to the previous year.

In the Fraser Institute’s Annual Survey of Mining Companies, everything from a country's attractiveness for mining investments to political stability and infrastructure—such as roads, railways, and access to geological data—is assessed. The survey was sent out to 2,289 companies in the mining industry worldwide, and 350 responses were received between August and December 2024. A total of 82 regions are ranked in the survey.

Sweden is highlighted as the sixth most attractive region in the world for investment, a sharp improvement from the previous year, when it was ranked 18th. Notably, Finland has climbed from 17th place to number 1, followed by Nevada, Alaska, Wyoming, Arizona, and then Sweden. Norway is ranked 10th.

— It is, of course, very gratifying that Sweden is improving its position. The Geological Survey of Sweden (SGU) works systematically to provide geological information for the mining industry as well as for society at large. We also have a specific mission to help increase Sweden's attractiveness as a mining nation. The Mining Inspectorate of Sweden, an independent part of SGU, also aims to manage the permitting process for exploration and mining establishment as efficiently, transparently, and clearly as possible. Naturally, many other factors influence the results of the Fraser Institute’s annual survey, but SGU's work is a contributing factor, and we intend to continue our efforts in this area, says Anette Madsen, Director General of SGU.

In the Policy Perception Index, which ranks countries based on their regulatory frameworks, Sweden is ranked 13th—an improvement from 14th place in 2023. The limited increase is partly due to rising concerns about protected areas. Ireland is ranked first, followed by Finland. No other European countries are in the top ten.

Sweden’s geological potential is ranked sixth best for mining investment, a notable rise from 24th place in last year’s survey. Finland ranks second, and no other European countries are in the top ten.

The survey also includes more specific questions about the permitting process and its efficiency. For example, 44% of respondents stated that the time to obtain an approved permit had decreased, while 39% said it had increased.

Report 2024: Fraser Institute Annual Survey of Mining Companies 2024

Report 2023 Fraser Institute Annual Survey of Mining Companies 2023