After a few years of recession, mining investments have recently shown considerable growth in Finland. A dozen or so new exploration companies have started operations during the last year, and exploration has been activated, leading to some notable discoveries. A number of prospects are undergoing feasibility studies and proceeding towards mine development. Finland remains one of the most interesting destinations for mining investment right now, according to the Fraser Institute’s study on mining companies. So, the near-future outlook is positive.
The global political situation is currently unstable and forecasts of economic growth are uncertain. New technologies will be based on minerals. For example, there is expected to be a boom in mining of so-called battery metals as electric cars replace those with internal combustion engines in the decades to come. It is not only lithium which is required, a typical electric car of the future will also need about 160 kg of copper, 11 kg of cobalt and 11 kg of nickel. Therefore, copper, nickel, lithium and cobalt should all particularly benefit, as well as graphite. Interestingly, we have existing deposits and excellent exploration potential for further discoveries of all these commodities in Finland.
GTK is applying long-term roadmaps to guide expertise development to meet our stakeholders’ needs, from geology and exploration techniques, to minerals processing, sustainable management of mine environments, and material studies related to the circular economy. GTK’s strong partnerships in Europe and globally make it possible to offer cutting-edge knowhow to our clients. In Finland, GTK is actively building new ways to cooperate with universities to support the development of the minerals sector innovation ecosystem in Finland, where the role of the companies is becoming increasingly important. Together we can create world-class expertise and success.
Promotion of investment opportunities in Finland and support for export of Finnish minerals sector knowhow have become important tasks for us. We are always pleased to help newcomers establish their operations in Finland.
Director, Science and Innovations