Three new mines were opened in Norway, Sweden and Finland in 2024. Several mature projects are in the pipeline.
Although there are hiccups when investing in the Nordics, companies find viable solutions if they allocate time enough. Those were among the mineral industry’s key messages during Nordic Mining Day 2025 in Toronto.
The Geological Survey of Norway chaired this year’s Nordic Mining Day (NMD), which is an annual event primarily targeting investors and mineral companies. Attendance was record high, and state secretaries, ambassadors and top managers were highly represented on the list of speakers. Turbulent geopolitics and the need for self-sufficiency of raw materials within Europe was highlighted stronger than ever before.
Key take-aways
Mineral companies presented active and mature projects in Finland, Sweden and Norway. They also shared their experiences with current legislation, regulation and social acceptance in the Nordics. Among the key take-aways we noted the following:
- The footprint from modern high-tech mining is quite small compared to former projects, and the public needs to understand this. We must enhance social acceptance
- An advantage in the Nordic countries is the entrepreneurial spirit. It’s important!
In times of turbulent geopolitics, the Nordic governments seem more aligned than ever in facilitating sustainable mining in the Fennoscandia region - We need more mines, we need more minerals, and we need more recycling of secondary resources
- Social acceptance is increasing, although the NIMBY phenomenon remains strong
- Nordic mineral strategies all align well with EU’s CRMA
- Policies, strategies, investments and mapping activities all need to encourage new discoveries
- Developing and realizing viable projects still takes too much time
- Among the mining industry’s’ main questions are: Do the Nordics represent potential prosperity? Is the regulatory framework well established? Is it safe to operate? These boxes need to be ticked!
- Although there are hick-ups when it comes to investing in the Nordics, companies usually find good solutions, good workarounds, as long as they allocate enough time
Nordic Mining Day 2026 will be chaired by the Geological Survey of Sweden (SGU).
