Iceland

In 2024, Iceland was the world’s ninth-ranked producer of silicon metal (excluding the United States production), accounting for an estimated 0.5% of global production; the eight-ranked producer of ferrosilicon (excluding the United States production), accounting for an estimated 2.0%; and the 11th-ranked producer of aluminum, accounting for an estimated 1.0% of global production. Other mineral commodities produced in the country included sand and gravel. Mining and quarrying accounted for 0.1% of the country’s gross domestic product (GDP). Iceland’s total goods exports were valued at \$6.8 billion (ISK932.1 billion). Of this amount, aluminum exports accounted for 33.5%; ferrosilicon, 2.8%; and products of mining, 0.3%. The legislative framework for the mineral sector in Iceland is provided by the Act on the Survey and Utilization of Ground Resources (No. 57/1998). The National Energy Authority (Orkustofnun) is responsible for issuing and monitoring permits for the exploration and utilization of subsurface resources in the earth.