Finland's mineral sector is an important contributor to the country's economy, and the government's policies and regulations have helped to ensure that the sector is developed in a responsible and sustainable manner. With its rich deposits of minerals and metals, Finland is well positioned to continue to play a key role in the global mining industry.
The Finnish government has implemented a number of policies to ensure responsible and sustainable development of its mineral resources. The Mining Act, which was revised in 2011, sets out clear guidelines for environmental protection and the management of mining waste. The Act also requires mining companies to provide financial guarantees to cover the costs of environmental cleanup, and requires that mining activities be carried out in consultation with local communities.
The largest companies in Finland's mineral sector include Outokumpu, Boliden, and Metso Outotec. Outokumpu is a stainless-steel producer with mining operations in Kemi, where it extracts chromite ore. Boliden is a mining and smelting company that operates the Aitik copper mine in northern Sweden, which is one of the largest copper mines in Europe. Metso Outotec is a minerals processing and technology company that provides equipment and services to the mining industry.
In recent news, Outokumpu announced in 2022 that it plans to invest €250 million in its Kemi mine to expand its production capacity of chromite ore. The company expects the expansion to be completed by 2025 and to create around 400 new jobs in the region. Boliden, on the other hand, has faced some challenges in recent years due to declining copper prices, and has had to adjust its operations and reduce its workforce. However, the company remains optimistic about the long-term prospects of the Aitik mine and has invested in new equipment and technology to improve its efficiency and reduce its environmental impact. Metso Outotec has been involved in several major projects in recent years, including the development of a new process for extracting lithium from brine.