In 2024, Norway was known as a leading producer in the world of olivine (available information was inadequate to make reliable estimates of output), and was estimated to be the third-ranked silicon metal producer (excluding United States production), accounting for an estimated 2.5% of world production; the fourth-ranked ferrosilicon producer (excluding United States production), accounting for an estimated 3.5% of world production; and the fifth-ranked ilmenite producer, accounting for an estimated 4.6% of world production. Other mineral commodities produced included, among others, aluminum, cobalt, graphite, and mercury. The country was also the fourth-ranked exporter of natural gas, supplying approximately 3% of the global consumption. Norwegian petroleum production supplied approximately 2% of the global consumption.
Total sales of mineral raw materials, not including sales from the extraction of crude petroleum and natural gas, accounted for \$1.34 billion (NOK14.4 billion), of which 53.9% represented export sales. The petroleum sector was the major industry for the Norwegian economy in terms of its share of state revenue, export value, and investment. Crude petroleum and natural gas, two of Norway’s most important export commodities, accounted for 61% of the total value of the country’s exports in 2024.
Act No. 101 of June 19, 2009 (The Minerals Act), which entered into force on January 1, 2010, regulates the exploration and extraction of mineral resources and the acquisition of mining rights. Act No. 7 of March 22, 2019 (The Seabed Minerals Act), which entered into force on July 1, 2019, regulates the exploration and extraction of mineral deposits on the Norwegian Continental Shelf (NCS) (a relatively shallow area of seabed that extends from the coast of Norway). On January 9, 2024, the Norwegian Parliament (Stortinget) endorsed the Government's proposal to allow NCS exploration for the possible extraction of seabed minerals, making Norway the first country in the world to move forward with commercial-scale seabed mineral mining activities. The Directorate of Mining, which is under the Ministry of Trade and Industry, is responsible for administering the extraction of mineral resources. The Norwegian Mineral Industry (Norsk Bergindustri), which was established in 2008, was the trade association for the Norwegian mineral industry.
