Sweden sells its mineral wealth too cheap


Sweden scores high in international rankings of mining nations, but concern is growing that the Scandinavian country is selling its vast underground resources far too cheap, AFP reports.

“This is something we own together,” Jesper Roine, associate professor at the Stockholm School of Economics, told the news agency.

The Swedish state earned only a little over 30,000 euros ($41,000) in concession fees in 2012. Fees are a mere 0.2 percent of total output value, of which three quarters go to the landowner and only one quarter ends up in the state treasury.

By comparison, Canadian provinces typically charge 10 to 15 percent, and Australia implemented a 30 percent mining tax in 2012, AFP said.

Last Updated (Monday, 13 January 2014 02:04)

 



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