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Statistics and information on the mining industry in Finland.

Overview


In 2024, the country was estimated to be the second-ranked peat producer in the world, accounting for an estimated 15.1% of world production; the third-ranked mica producer, accounting for an estimated 14.4% of world production; and the fifth-ranked (excluding United States production) chromium producer, accounting for an estimated 3.9% of world production. Among the European Union (EU) countries, Finland was one of the leading gold, palladium, and platinum producers. Other mineral commodities produced included, among others, phosphate rock, selenium, and talc. 

Sales in the mining and quarrying sector increased by 2.2% to \$2.92 billion (EUR2.7 billion) in 2024, accounting for 5.1% of the country’s total sales. The Government regulates the mineral industry through two main laws—the Land Extraction Act (555/1981 of July 24, 1981, effective on January 1, 1982), which regulates the extraction of sand and gravel and the quarrying of natural stone, and the Mining Act (621/2011 of June 10, 2011, effective on July 1, 2011), which regulates the mining of metallic and industrial minerals other than sand and gravel, and stone. In 2010, the Government issued the Minerals Strategy, which makes recommendations concerning the formulation of a sustainable minerals policy and the development of the mineral industry. On December 19, 2024, the Government issued Finland's new National Mineral Strategy, which aims to secure raw material supply for industry, guide the sustainable and responsible mining of minerals, and strengthen Finland’s mineral cluster. Its implementation is planned to begin in 2025. On May 23, 2024, the EU’s Critical Raw Materials Act came into force, intending to secure the supply of critical raw materials for the EU market and reduce the EU’s dependency on imports. 

The agencies overseeing the mineral industry include the Finnish Safety and Chemicals Agency (TUKES), the Ministry of Economic Affairs and Employment (MEAE), the Regional State Administrative Agencies (AVIs), the Centers for Economic Development, Transport, and the Environment (ELY Centers), and the Radiation and Nuclear Safety Authority of Finland (STUK). 

Dragon Mining Ltd. of Australia owned the Vammala Production Center, which included three gold mines: the active Jokisivu Mine; the Kaapelinkulma Mine, where the company ceased production in 2021; the Orivesi Mine, where the company ceased production in 2019; and the centrally located Vammala plant. In 2024, the company decided to close the Kaapelinkulma Mine with closure works planned for 2025–26. By the end of 2024, construction of the Keliber lithium refinery, which started on March 7, 2023, was nearly completed. It was the first phase of the Keliber lithium mining project, which was majority-owned by Sibanye-Stillwater. The project would comprise five mining areas, the Paivaneva concentrator, the lithium hydroxide refinery at the Kokkola Industrial Park (Keliber lithium refinery), and auxiliary facilities at all sites. The refinery was expected to produce an estimated 15,000 metric tons per year of lithium hydroxide monohydrate. 

 

2024 Report

Full data release with tables here.


Finland had a well-developed mineral industry and infrastructure, a strong geologic knowledge base, and favorable geology for the occurrence of economic mineral deposits. In 2024, the country was estimated to be the second-ranked peat producer, accounting for an estimated 15.1%; the third-ranked mica producer, accounting for an estimated 14.4% of world production; and the fifth-ranked (excluding United States production) chromium producer, accounting for an estimated 3.9% of world production. Among the European Union (EU) countries, Finland was one of the leading gold, palladium, and platinum producers. Other mineral commodities produced included, among others, phosphate rock, selenium, and talc (Production table; Kaivosteollisuus.fi, 2025; Mining Finland, 2025; Brioche, 2026; Jasinski, 2026; Schulte, 2026). 

 

Minerals in the National Economy 

In 2024, Finland’s real gross domestic product (GDP) increased by 0.4%, and the nominal GDP was \$298.7 billion. The number of employees in the mining and quarrying sector increased to 6,014 from 5,984 in 2023, while the number of companies decreased to 1,120 from 1,139. Sales in the mining and quarrying sector increased by 2.2% to \$2.92 billion (EUR2.7 billion)1 and accounted for 5.1% of the country’s total sales (Statistics Finland, 2025a; World Bank, The, 2025a, b). 

In 2024, 22 companies submitted mining reports to the Finnish Safety and Chemicals Agency (TUKES) about the mining activities of their 44 mines. The mines included 10 metallic ore mines and 34 industrial mineral mines. Total excavation at these mines decreased to 120.8 million metric tons (Mt) from 128.1 Mt in 2023, and 87% of this amount was extracted from the Terrafame (44.2 Mt), the Kevitsa (32.2 Mt), and the Siilinjarvi (28.4 Mt) Mines. Included in this total, excavation of ore (metal ore, carbonate rock, industrial rock, and industrial mineral) decreased to 44.3 Mt from 46.8 Mt, of which metal ore excavation accounted for 30.0 Mt. Investment in mining activities increased to \$485.9 million (EUR449 million), or by 18% compared with that in 2023. The major investments were focused on the Kevitsa Mine, followed by the Terrafame, Keliber, Kittila, Siilinjarvi, and Kemi Mines (Finnish Safety and Chemicals Agency (TUKES), 2025c; Liikamaa, 2025, p. 2, 10). 

In 2024, 60 companies submitted exploration reports to TUKES, compared with 59 companies in 2023. Investment in exploration in Finland decreased to \$97.9 million (EUR90.5 million), or by approximately 4%. The total exploration application area covered 5,125 square kilometers, of which 255 kilometers of ore were drilled, an 11% decrease compared with that in 2023. The Government agency participating in exploration activities was the Geological Survey of Finland (GTK), which focused on assessing and modeling potential ore-rich areas (Liikamaa, 2025, p. 2, 6; Mining Finland, 2025). 

 

Government Policies and Programs 

The Government regulates the mineral industry through two main laws—the Land Extraction Act (555/1981 of July 24, 1981, effective on January 1, 1982), which regulates the extraction of sand and gravel and the quarrying of natural stone, and the Mining Act (621/2011 of June 10, 2011, effective on July 1, 2011), which regulates the mining of metallic and industrial minerals other than sand and gravel, and stone. The objective of the Mining Act is to ensure that exploration and mining activities are conducted in an environmentally, economically, and socially sustainable way. The Mining Act takes account of other key laws applicable to exploration and mining, including the Finnish Constitution and legislation concerning the Sami regions in northern Finland. In 2010, to promote research on raw materials and their production, the Government issued the Minerals Strategy, which makes recommendations concerning the formulation of a sustainable minerals policy and the development of the mineral industry. On December 19, 2024, to meet the growing need for minerals and to secure the supply of raw materials for industry, the Government issued Finland's new National Mineral Strategy, which aims to secure raw material supply for industry, guide the sustainable and responsible mining of minerals, and strengthen Finland’s mineral cluster. Its implementation is planned to begin in 2025. On May 23, 2024, the EU’s Critical Raw Materials Act came into force, intending to secure the supply of critical raw materials for the EU market and reduce the EU’s dependency on imports (Geological Survey of Finland, 2010, p. 2; European Parliament, 2025; Finlex, 2025a–c; Ministry of Economic Affairs and Employment, 2025b; Outokumpu Oyj, 2025b). 

TUKES is the major governing body for the mining sector and acts as the mining authority. TUKES grants and supervises permits, and enforces compliance with the Mining Act. The Ministry of Economic Affairs and Employment (MEAE) provides guidance for monitoring and development activities related to the Mining Act. The Regional State Administrative Agencies (AVIs) grant the environmental permits required for mining. The Centers for Economic Development, Transport, and the Environment (ELY Centers) supervise and protect the public interest concerning environmental and water issues. The Government rules on matters related to mining reclamation permits and permits for mining thorium and uranium. The Radiation and Nuclear Safety Authority of Finland (STUK), which is under the Ministry of Social Affairs and Health, is responsible for matters related to radioactive substances (Finnish Safety and Chemicals Agency (TUKES), 2025a, b; Ministry of Economic Affairs and Employment, 2025a, c; Radiation and Nuclear Safety Authority, 2025a, b). 

 

Production 

Data on mineral production are in the Production table (formerly table 1). 

 

Structure of the Mineral Industry

Finland’s metallic mineral mines were mostly privately owned by foreign enterprises, although the Government held an equity share in some of the major mineral producers. Projects planning to start new mining operations included the Hannukainen iron mining project (owned by Hannukainen Mining Oy), the Hautalampi cobalt-nickel mining project (Eurobattery Minerals AB), and the Keliber lithium mining project (Sibanye-Stillwater Ltd.). Several ore prospecting projects were underway as well. The Facilities table (formerly table 2) is a list of major mineral industry facilities (Ministry of Economic Affairs and Employment, 2024; Eurobattery Minerals AB, 2025; Hannukainen Mining Oy, 2025; Sibanye-Stillwater Ltd., 2025a, b). 

 

Mineral Trade 

In 2024, the total value of Finland’s exports amounted to \$78.1 billion (EUR72.207 billion), and the total value of its imports to \$80.4 billion (EUR74.294 billion). The country’s leading export products were, in terms of value, chemicals, which accounted for 19.4% of total exports; metals and metallic products, 16.7%; forest industry products, 16.5%; machinery and equipment, 14.2%; and electric and electronics industry products, 13.3%. Mining and quarrying products accounted for 1.6% of total exports. The leading import products were chemicals, which accounted for 18.6% of total imports; electric and electronics industry products, 15.9%; mining and quarrying products, 12.4%; transport equipment, 10.5%; machinery and equipment, 9.7%; and metals and metallic products, 9.4%. Finland’s leading export partners were Sweden, which received 11.3% of the country’s total exports; Germany, 11.2%; and the United States, 9.6%. The leading import partners were Germany, which supplied 14.0% of the country’s total imports; Sweden, 11.6%; and China, 10.0% (Finnish Customs Statistics, 2025, p. 10; Statistics Finland, 2025b, p. 32). 

 

Commodity Review 

Chromium.—In 2024, chromite ore production amounted to 1,944,299 metric tons (t) and that of ferrochromium amounted to 374,000 t. Outokumpu Oyj’s Kemi Mine, located in Kemi in northern Finland, was the only operating chromium mine in the EU. The company also operated ferrochrome smelter and stainless-steel plant located in nearby Tornio (Outokumpu Oyj, 2025a, c). 

Cobalt.— In 2024, Finnish mines produced 1,008 t of cobalt as a by-product from copper-nickel‑cobalt concentrates from copper-nickel mines. Finish mines were the only cobalt-producing mines in Europe. Finnish plants produced 12,025 t of refined cobalt. The country was a significant refined cobalt producer; however, along with the rest of Europe, it was strongly dependent on cobalt imports (Facility table; Production table; European Commission, 2026). 

Copper.—In 2024, production of Cu content in concentrates increased by 31% to 26,399 t compared with that in 2023. Boliden Mineral AB (Boliden) of Sweden owned the Kevitsa copper-nickel open pit mine. Milled volume at the Kevitsa Mine slightly increased to 9.85 Mt of ore from 9.83 Mt in 2023, and copper grade increased to 0.30% from 0.24%. The Kevitsa Mine also produced cobalt, gold, nickel, palladium, and platinum. First Quantum Minerals Ltd. of Canada owned the polymetallic Pyhasalmi Mine, which was an underground mine located in central Finland. Copper production at the mine ended in 2022 owing to depleted reserves and the underground mine closure. The mine operated for 60 years. Pyrite production from tailing ponds and processed in the mill was expected to continue until 2025 (Production table; Boliden Group, 2025, p. 182; First Quantum Minerals Ltd., 2025). 

Gold.—Mined gold production decreased to 8,401 kilograms (kg) in 2024, or by 4.6% compared with that in 2023. Gold production from the underground Kittila Mine of Agnico Eagle Mines Ltd. of Canada decreased to 6,807 kg, or by 6.6%. The decrease was owing to a lower gold grade and throughput. According to the company, the Kittila Mine, located in the Lapland Region of northern Finland, was the largest primary gold mine in Europe. As of December 31, 2024, the property had proven and probable mineral reserves of 25.4 Mt grading 4.16 grams per metric ton (g/t) gold. Production at the mine started in 2009 and the mine’s life was estimated to continue through 2036 (Production table; Agnico Eagle Mines Ltd., 2025a, p. 4, 44, 49; 2025b, p. 30; 2025c). 

Dragon Mining Ltd. of Australia owned the Vammala Production Center, which included three gold mines: the active Jokisivu Mine; the Kaapelinkulma Mine, where the company ceased production in 2021, and in 2024, decided to close the mine with closure works planned for 2025–26; the Orivesi Mine, where the company ceased production in 2019; and the centrally located Vammala plant. In 2024, Dragon Mining’s gold production at Vammala increased to 638 kg of gold in concentrates, or by 1.8% compared with that in 2023. Processed milled ore decreased by 6.6% to 299,951 t, the average ore grade increased to 2.52 g/t from 2.30 g/t, and the process recovery decreased to 84.4% compared with 84.9% in 2023. As of December 31, 2024, the proven and probable mineral reserves at the Jokisivu Mine were 1.2 Mt grading 2.3 g/t gold. Dragon Mining also owned the Uunimaki gold project. In 2023, the company received the exploration license and was to determine whether the higher-grade gold mineralization occurs at an amount that could potentially be amenable to mining and processing at the Vammala plant. The exploration drilling was expected to start in 2025 (Dragon Mining Ltd., 2025a, p. 8, 14, 15; 2025b). 

Limestone and Wollastonite.—Nordkalk Corp., a subsidiary of SigmaRoc Plc, produced wollastonite from the only wollastonite quarry in Europe. The mineral was extracted and processed in Lappeenranta. The company was also the leading limestone and limestone powder producer in northern Europe. It had 11 limestone mines, of which 3, the Parainen, Lappeenranta, and Tytyri Mines, accounted for over 90% of Nordkalk’s limestone production in Finland. In 2024, in Finland, Nordkalk Corp. produced a total of 2.1 Mt of limestone and wollastonite, with the Lappeenranta Mine accounting for 0.9 Mt; Parainen Mine, 0.8 Mt; and Tytyri Mine, 0.2 Mt. Lappeenranta was Nordkalk’s largest production site in Finland; it included a quarry, a grinding plant, and two flotation plants (Kaivosvastuu Finland, 2025; Nordkalk Corp., 2025). 

Lithium.—By the end of 2024, construction of the Keliber lithium refinery, which started on March 7, 2023, was nearly completed. It was the first phase of the Keliber lithium mining project, which was majority-owned by Sibanye-Stillwater. Earthworks and some infrastructure work at the Paivaneva concentrator and the Syvajarvi open pit mine, which were the second phase of the project, started in the fourth quarter of 2023. Mining was expected to commence in the first quarter of 2026. The project would comprise five mining areas, the Paivaneva concentrator, the lithium hydroxide refinery at the Kokkola Industrial Park (Keliber lithium refinery), and auxiliary facilities at all sites. The project was estimated to have mineral resources of 15.8 Mt grading at 1.2% lithium oxide (Li2O), containing 471,000 t of lithium carbonate equivalent. The refinery was expected to produce an estimated 15,000 t per year of lithium hydroxide monohydrate (Sibanye-Stillwater Ltd., 2025a, b). 

Nickel.— Terrafame Ltd.’s mine and metal production plant, which were located at Sotkamo in Kainuu region, produced cobalt, copper, nickel, and zinc. Terrafame’s mining concession at Sotkamo held, according to the company, the largest nickel ore reserves in Europe and included two verified ore deposits: the Kuusilampi deposit with the company’s open pit mine, and the Kolmisoppi deposit, where operations were expected to begin in the late 2020s. In 2022, the company submitted an environmental permit application for the expansion of the mining concession and the extraction from the Kolmisoppi deposit; however, in 2023, it was disapproved by the Regional State Administrative Agency for Northern Finland, since the procedure to deviate from the objectives of the water management plan required a legislative amendment, which was still under preparation. Terrafame decided to proceed with the Kolmisoppi project in two phases and applied for a permit to mine the ore deposit in the Kolmisoppi land area, where the mining was scheduled for 2028–2033. In the second phase, the company would apply for a permit to expand the mine into the water area, with mining scheduled for 2040–2050. Between 2033 and 2040, mining would take place in the current Kuusilampi Mine. Production from both deposits was estimated to last for up to 50−60 years. In August 2024, as the Kolmisoppi deposit was part of a supply chain complying with the EU’s Critical Raw Material Act, the company applied for a strategic status. The decision is expected to be announced in 2025 (Terrafame Ltd., 2025, p. 20). 

At Boliden’s Kevitsa Mine, nickel production increased to about 12,000 t from about 10,000 t in 2023, which was owing to a higher milled volume and higher metal grade. Production of nickel matte at Boliden’s Harjavalta smelter increased to 40,074 t from 34,184 t in 2023. The Harjavalta smelter mainly produced copper, but at the same time, it was the largest nickel smelter in the EU (Production table; Boliden Group, 2025, p. 22, 182, 183). 

Silver.—The production of silver in Finland decreased to 36,660 kg in 2024, or by 17% compared with that in 2023. Sotkamo Silver Oy, a subsidiary of Sotkomo Silver AB of Sweden, owned the silver mine located at Sotkamo, which started production in 2019. In 2024, the milled ore volume at the silver mine increased to 497,000 t compared with 478,000 t in 2023, or by 4%, and was below the company’s production plans, owing to insufficient mining capacity. Production of silver in concentrates decreased to about 36,270 kg from 43,887 kg. The company also produced 1,642 t of zinc, 729 t of lead, and 80 kg of gold in concentrates (Production table; Sotkamo Silver AB, 2025, p. 4, 13). 

 

Outlook 

In the long term, the Government’s goal for its mineral sector is that it becomes an active, globally competitive sector that secures raw material supply and supports regional development. Therefore, the Government continues to work on providing an optimal regulatory and business environment for the mining and mineral processing sectors. Finland possesses strong technological expertise in mining machinery and significant metal refining activities. New cobalt-nickel, iron, and lithium mining projects are being developed and, once completed, the minerals production is expected to increase. Mining activities are expected to remain at a high level and be supported by extensive exploration and investments. 

 

References Cited  


  • Brioche, A.S., 2026, Peat: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 138–139. 
  • Finnish Safety and Chemicals Agency (TUKES), 2025a, Mining activity: Rovaniemi, Finland, Finnish Safety and Chemicals Agency (TUKES). (Accessed November 2, 2025, at https://tukes.fi/en/mining.) 
  • Hannukainen Mining Oy, 2025, Hannukaisen kallioperä on kestävällä tavalla hyödynnettynä miljardien arvoinen [Hannukainen's bedrock is worth billions when exploited sustainably]: Tornio, Finland, Hannukainen Mining Oy. (Accessed November 2, 2025, at https://hannukainenmining.fi/kolarin-kaivos-info/malmit/.) [In Finnish.] 
  • Jasinski, S.M., 2026, Mica (natural): U.S. Geological Survey Mineral Commodity Summaries 2026, p. 128–129. 
  • Ministry of Economic Affairs and Employment, 2025a, ELY Centres: Helsinki, Finland, Ministry of Economic Affairs and Employment. (Accessed November 2, 2025, at https://tem.fi/en/ely-centres.) 
  • Ministry of Economic Affairs and Employment, 2025b, Minerals policy helps to secure national supply of raw materials: Helsinki, Finland, Ministry of Economic Affairs and Employment. (Accessed November 2, 2025, at https://tem.fi/en/minerals-policy.) 
  • Ministry of Economic Affairs and Employment, 2025c, Ministry: Helsinki, Finland, Ministry of Economic Affairs and Employment. (Accessed November 2, 2025, at https://tem.fi/en/ministry.) 
  • Radiation and Nuclear Safety Authority, 2025a, Legislation and guides: Helsinki, Finland, Radiation and Nuclear Safety Authority. (Accessed October 17, 2025, at https://stuk.fi/en/legislation-and-guides.) 
  • Radiation and Nuclear Safety Authority, 2025b, Strategy: Helsinki, Finland, Radiation and Nuclear Safety Authority. (Accessed October 17, 2025, at https://stuk.fi/en/strategy.) 
  • Schulte, R.F., 2026, Chromium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 66–67. 

 

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