The Fraser Institute's report from the 2024 Annual Survey of Mining Companies, puts Norway among the top 10 jurisdictions for mining investment worldwide.
“A sound, predictable regulatory regime coupled with competitive fiscal policies make a jurisdiction attractive to investors….. “Policymakers across the globe should understand that mineral deposits alone are not enough to attract investment", says Elmira Aliakbari, director of the Fraser Institute’s Centre for Natural Resource Studies and co-author of the report, in a Fraser press release.
Norway's Minister of Trade: - Norway is on the right track
-Given the ongoing green transition, modern tech development and the current global security situation, Europe and the western world are compelled to become self- sufficient on critical raw materials. Norway’s leap up to the top 10 most attractive jurisdictions for mineral investments, prospecting and development of future mines is indeed very positive, says Norway’s Minister of Trade, Cecilie Myrseth.
-The Norwegian government’s effort to enhance and facilitate sustainable prospecting and mining within a predictable framework, makes our country a more attractive and competitive jurisdiction for investors. During our time in office, we have made mining a top priority. We are presently following up on our new mineral strategy. Furthermore, our mineral act was approved by the Norwegian parliament this spring. It has also been decided that Norway as a non-EU member judicially will implement the EU’s Critical Raw Materials Act (CRMA). Norway’s mineral production and future prospects are key aspects in several og the government's new strategic partnerships internationally, and Fraser Institute’s report shows that we are on the right track, says Minister Myrseth.
Norwegian geological maps and databases a strong runner-up
Access to public geological maps and databases is a crucial factor in prospectors’ and investors’ decision making processes, and important to their success rate in initial prospecting. Thus, Fraser Institute’s survey also measures the industry’s rating of national geological databases; data content, data quality, scale and usability. Norway ranks second on this index, next after Northern Ireland, among 82 jurisdictions in total.
Director of the mineral resources department at the Geological Survey of Norway (NGU), Henrik Schiellerup, played a key role in the government’s mineral strategy process:
-NGU eagerly supports and serves the mineral industry with geological knowledge, maps and data. We map bedrock and mineral deposits, and we continuously aim to improve our maps and data services. The fact that Norway now ranks number two internationally is a vote of recognition and confidence that we truly treasure at NGU, says Schiellerup.
