Swedish miner Boliden suspended a planned €1 billion expansion of its Kevitsa copper and nickel mine in Northern Finland.
The company cited the Finnish government’s decision to quadruple the mining tax on metal ores as the primary driver.
The new legislation increased the levy from 0.6% to 2.5% of the taxable value.
This decision halts a project intended to extend the mine's operational lifespan beyond 2034.
Boliden initiated change negotiations that could affect up to 285 employees at the Kevitsa site.