The New National Mineral Strategy Responds to a Changing World

On December 19, 2024, the Ministry of Economic Affairs and Employment of Finland published the country's new National Mineral Strategy, which outlines the future of sustainable and responsible exploitation of minerals. The strategy provides direction for the growth of the mineral cluster, development of the value chain, and ensuring the availability of raw materials for industry.

The strategy promotes the green and digital transition, and responds to a changing world where supply security, self-sufficiency, and responsibility are emphasized. The key goals of the strategy include the growth of the mineral cluster, responsibility, developing expertise, and strengthening international cooperation. Concrete measures include streamlining authorization processes, mapping the mineral potential of the bedrock, and supporting the circular economy.

Business Finland promotes sustainable utilization of minerals – circular economy plays a key role

Business Finland played a role in both the steering committee and the secretariat of the new national mineral strategy. The strategy will be implemented through, for example, the Business Finland missions that guide the planning of Business Finland's activities.

"The circular economy improves the availability of raw materials and reduces dependence on virgin natural resources. Finland has significant potential to promote sustainable development when answering global challenges. Through research and development, we can increase the value added of raw materials and strengthen the competitiveness of the industry in the international markets", says Outi Suomi, the leader of the Circular Transition for Zero Waste Mission at Business Finland and a member of the National Mineral Strategy steering committee.

The share of the circular economy in the mining industry can be increased significantly. Indicative of the raw material potential is that mining wastes are produced at a rate of five billion tons annually worldwide. The market for technologies and solutions related to processing and refining mining by-products is estimated to be worth over 10 billion globally.

"Finnish solutions have a significant foothold in these markets and good growth prospects. Interesting targets for research and development work include solutions for the utilization of metals that are difficult to recycle, the use of data in value chains, efficient use of by-products and wastes, and considering the circular economy in mine design", states Outi Suomi.

Finland is a significant supplier of critical raw materials in the EU. We offer a solid platform for developing circular economy-based solutions for the global market. At the same time, we create solutions to enhance our own raw material supply security.

Read more about Finland's National Mineral Strategy
(in Finnish)

Further information

Secretariat of the Mineral Strategy:
Maarit Kokko, maarit.kokko (at) businessfinland.fi

Mineral Strategy Steering Group:
Outi Suomi, outi.suomi (at) businessfinland.fi
Tuukka Vainio, tuukka.vainio (at) businessfinland.fi