On August 11th the Finnish crane and lifting company Konecranes announced an all-stock merger with the Connecticut based heavy equipment company Terex corporation. The new company will be based in Finland and be an industry leader with $10bn in annual revenues and a combined market value of $5.7bn. According to Financial Times the new company will be able to take advantage of Finland’s 20 per cent corporate tax rate — rather than the 35 per cent rate for US companies.

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Finland and Sweden are shaping up as a new exploration frontier for mining companies, as they widen their global hunt for metals from nickel to gold, according to Sirius Resources NL.

A lack of exploration around existing mines in the two nations and a natural endowment of metals mark them out as a key target, Sirius Chief Executive Officer Mark Bennett said in an interview.

“Finland and Sweden are both really well endowed with gold, nickel, copper and zinc deposits,” Bennett said Monday in an interview in Kalgoorlie, Western Australia. “That’s our sleeping giant, if you like.”

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