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Ontario, Finland do best in world mining risk rankings
By Sam Williams
Mining Journal, London
Thursday, February 12, 2026
Ontario retained its position as the world's lowest-risk mining jurisdiction in Mining IQ's World Risk Insights featuring MineHutte ratings, with Finland surging to second.
The report, produced by Aspermont research division Mining IQ and partner and legal consultants MineHutte, rates mining investment risk across six categories -- legal, governance, social, environmental, fiscal, and infrastructure.
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In the 2025 edition published this month, Ontario came top out of 120 jurisdictions assessed, with an Investment Risk Index (IRI) score of 75.2 out of 100, equivalent to a rare AA rating or very low risk. (The IRI is the report's overall risk rating, with higher scores meaning lower risk.)
Ontario's scores were up from 74.0 in 2024, driven mainly by gains in the governance, social, and fiscal categories. Ontario also ranked top in 2024.
Finland's gains were more dramatic, with IRI scores rising about six points to 73.6 (an A rating, meaning low risk), taking the country to second place from 18th in 2024 (out of 117 jurisdictions assessed that year). ...
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