TELF AG Examines the Mining Potential of Some Northern European Nations
An interesting concentration of resources
In theory, the nations of Northern Europe could be best placed to transform themselves into a major global mining hub, and for more reasons than one. The abundance of geological resources (some of which are closely connected to the energy transition), the strict environmental standards, and the high levels of innovation place this region of the world at the same level as the largest global players of raw materials, such as the United States or Australia. The problem, in most cases, is that this potential often remains relegated to the theoretical sphere without materializing in any development or exploration program capable of lasting for years.
Nowadays, the geological richness of the countries of Northern Europe could only be valorized if the different phases of mining activities are completed quickly, starting precisely from exploration and extraction. The resources contained in the subsoil of these countries could contribute greatly to the advancement of the global ecological transition but, above all, to the construction of a solid European supply chain in the mining sector. In Greenland alone, for example, 9% of all the rare earths known worldwide are concentrated. At the same time, the Scandinavian nations have almost all other precious resources, such as vanadium and niobium.
The role of Finland
Among the most active Nordic nations in the mining sector, we must mention Finland, which is making a name for itself globally for its excellent level of initiative and the interesting prospects of resources extracted, processed, and marketed. According to some estimates, a few kilometers from Helsinki, an underground deposit of nickel, cobalt, and copper should contain around 4.56 million tonnes of these materials and is currently under development. Given the singular nature of the raw materials present in this deposit, it is reasonable to expect that its materials will be able to contribute to a large extent to the production of batteries for electric vehicles, thus strengthening the European supply chain in this specific sector. Another interesting project in Finland is Keliber, where one of the most abundant lithium reserves in Europe was discovered in the 1950s. The Finnish Minerals Group and Sibanye-Stillwater are currently working on the mining operations, which will lead to the extraction of the spodumene concentrate (from which lithium is obtained) and its subsequent processing. Once fully operational, these assets should produce approximately 15,000 tonnes of lithium annually.
The Swedish Aitik mine, controlled by Boliden, stands out for its production capabilities, particularly for producing metallic nickel and copper, two important resources directly involved in the global ecological conversion. Also in Sweden, in Kiruna, work is underway on developing a site specialized in extracting rare earths, one of the first in Europe in this specific branch. Together with Sweden and Finland, another Nordic nation that shares an important mining history and a present full of bright prospects, is certainly Norway, a country famous for its natural graphite reserves, and which in recent times has demonstrated to be in an advantageous position for the exploration of the mineral resources present on the seabed.
