Finland

Finland has a vibrant exploration industry, and Taranis has a number of advanced-stage exploration projects. The Fraser Institute ranked Finland the number one foreign country to explore in 2001.

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Finland - An Overview

Background

Finland was a province and then a grand duchy under Sweden from the 12th to the 19th centuries, and an autonomous grand duchy of Russia after 1809. It won its complete independence in 1917. During World War II, it was able to successfully defend its freedom and resist invasions by the Soviet Union - albeit with some loss of territory. In the subsequent half century, the Finns made a remarkable transformation from a farm/forest economy to a diversified modern industrial economy; per capita income is now among the highest in Western Europe. A member of the European Union since 1995, Finland was the only Nordic state to join the euro system at its initiation in January 1999. In the 21st century, the key features of Finland's modern welfare state are a high standard of education, equality promotion, and national social security system - currently challenged by an aging population and the fluctuations of an export-driven economy.

Economy

Finland has a highly industrialized, largely free-market economy with per capita output roughly that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as mobile phones. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010. The recession left a deep mark on general government finances and the debt ratio, turning previously strong budget surpluses into deficits. Despite good growth prospects, general government finances will remain in deficit during the next few years. The great challenge of economic policy will be to implement a post-recession exit strategy in which measures supporting growth will be combined with general government adjustment measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.

GDP Per Capita

$35,400 (2010 est.) country comparison to the world: 34 $34,400 (2009 est.) $37,500 (2008 est.) note:data are in 2010 US dollars.

Labor Force

agriculture and forestry: 4.9% industry: 16.7% construction: 7.1% commerce: 19.4% finance, insurance, and business services: 12.8% transport and communications: 6.3% public services: 32.8% (2009)

Unemployment

8.4% (2010 est.) country comparison to the world: 98 8.2% (2009 est.)

Gold

Gold is found in ores made up of rock with very small or microscopic particles of gold. This gold ore is often found together with quartz or sulfide minerals such as Fool's Gold, which is a pyrite. Gold's atomic number of 79 makes it one of the higher atomic number elements which occur naturally. Like all elements with atomic numbers larger than iron, gold is thought to have been formed from a supernova nucleosynthesis process.

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Silver

Silver has been used for thousands of years for ornaments and utensils, for trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold. The word "silver" appears in Anglo-Saxon in various spellings such as seolfor and siolfor. During World War II, the short supply of copper led to the substitution of silver in many industrial applications.

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Copper

Copper has been in use at least 10,000 years, but more than 95% of all copper ever mined and smelted has been extracted since 1900. As with many natural resources, the total amount of copper on Earth is vast (around 1014 tons just in the top kilometer of Earth's crust, or about 5 million years worth at the current rate of extraction). However, only a tiny fraction of these reserves is economically viable, given present-day prices and technologies

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Cobalt

Cobalt occurs in copper and nickel minerals and in combination with sulfur and arsenic in the sulfidic cobaltite (CoAsS), safflorite (CoAs2) and skutterudite (CoAs3) minerals. The mineral cattierite is similar to pyrite and occurs together with vaesite in the copper deposits of the Katanga Province. Cobalt is not found as a native metal but is mainly obtained as a by-product of nickel and copper mining activities.

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Lead

Roman lead pipes often bore the insignia of Roman emperors. Lead plumbing in the Latin West may have been continued beyond the age of Theoderic the Great into the medieval period. Many Roman "pigs" (ingots) of lead figure in Derbyshire lead mining history and in the history of the industry in other English centers. The Romans also used lead in molten form to secure iron pins that held together large limestone blocks in buildings.

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Zinc

Various isolated examples of the use of impure zinc in ancient times have been discovered. A possibly prehistoric statuette containing 87.5% zinc was found in a Dacian archaeological site in Transylvania (modern Romania). Ornaments made of alloys that contain 80–90% zinc with lead, iron, antimony, and other metals making up the remainder, have been found that are 2500 years old.

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