About this publication

Nordic Mining & Minerals: Pathways to Growth

NI2026:01

Images: Adobe Stock
Layout: Agger Grafisk Design

Published: February 2026

This report offers a comprehensive strategic analysis of the Nordic mining and minerals sector. It focuses on the unique strengths of the region, the current challenges it faces, and the opportunities that can be leveraged for future growth. By drawing on global market trends and conducting a holistic assessment of the value chain, the study demonstrates how enhanced Nordic collaboration and focused interventions can help ensure a sustainable supply of critical minerals for Europe.

The findings and recommendations provided in this report are intended to inform a wide range of stakeholders – decision-makers, industry participants, and trade promotion organisations – on practical measures that can foster investment, drive innovation, and enhance the international competitiveness of the Nordic mining industry.

Disclaimer

The analysis and recommendations contained in this report are founded on a combination of publicly available data, proprietary research, and 35 stakeholder interviews conducted between September and November 2025. While every effort has been taken to ensure the accuracy and objectivity of the information presented, the conclusions reflect the perspectives of the authors and interviewees as of the time of writing. This document does not constitute specific investment advice and should not be relied upon as the sole basis for making business decisions.

About the Collaboration

This study was jointly commissioned by Business Finland, Business Sweden, Innovation Norway, and Nordic Innovation. The aim was to deliver a thorough, cross-border perspective on how the Nordic region can bolster its position within the global mining and minerals value chain. As national trade promotion organisations (TPOs), these entities are dedicated to enhancing international competitiveness, promoting cross-border collaboration, and supporting the growth of key Nordic industries.

The participating organisations have a well-established history of collaborative action to confront strategic challenges and seize emerging opportunities. Successful joint initiatives in the battery and chip sectors have already demonstrated the benefits of coordinated efforts, accelerating innovation, investment, and market positioning for Nordic businesses. Recognising the pressing need for a secure, sustainable supply of critical minerals, the TPOs have once again joined forces to provide a holistic, cross-border analysis. By combining their expertise and networks, this report is intended to support policy development, encourage investment, and foster stronger collaboration between public and private stakeholders throughout the Nordic region.

Acknowledgement

We extend our sincere gratitude to all the individuals and organisations who generously contributed their time, expertise, and perspectives during the interview process. Their insights have been crucial in shaping the analysis and recommendations contained in this report. We especially thank the representatives from mining companies, technology suppliers, investors, public authorities, and industry associations across the Nordic region for their openness and collaborative spirit. Without their valuable contributions, the completion of this report would not have been possible.

Nordic Innovation

Nordic Innovation is an organization under the Nordic Council of Ministers that promotes innovation, entrepreneurship, and competitiveness in Nordic businesses. Nordic Innovation acts as a catalyst and enabler in the Nordic Prime Ministers’ 2030 Vision by bringing together forces across sectors, borders, and disciplines to drive solutions that create lasting change and value.

Read more Nordic publications on www.norden.org/publications