The Nordic Region must secure supplies of critical metals and minerals
The Swedish Presidency of the Nordic Council of Ministers today hosted a meeting of Nordic business ministers to discuss how best to include metals and minerals in Nordic co-operation. The meeting was held at the Swedish mine, Sickla gruva, just outside Stockholm, where the ministers took a closer look at some of the minerals so important for the green transition and sustainable energy solutions.
Sustainably produced goods can become a strong and competitive Nordic brand – we have the geological potential and the knowledge about extracting and producing minerals needed for the green transition and to secure the Nordic Region’s position in global value chains.
The critical raw materials of the future
The meeting stressed that access to critical metals and minerals is key to the Nordic and EU 2030 climate and digital goals. Sustainable utilisation of the Nordic Region’s rich mineral resources – including building robust value chains – will reduce dependence on imports from other countries. This will be good for the green transition, help make the Region more resilient and open up new export opportunities for innovative solutions.
Security of supply makes the Nordic Region resilient
Unfortunately, we live in uncertain times and a more unpredictable geopolitical situation in which the Nordic Region cannot always trust that the regimes and countries we have traded raw materials with up until now will be able to guarantee supplies in the future. If the Nordic Region can secure critical raw materials from minerals mined in its own territory, it will enhance security of supply and free us from dependence on other countries, the ministers agreed.
Green Nordic export opportunities
The green transition has become a competitive parameter in the same way the green agenda has become an economic one. Companies that are early adopters of innovative green and low-carbon solutions can capitalise on the market opportunities inherent in a global low-carbon economy.
Together, we must improve security of supply and resilience via access to the metals and minerals that are so important for the Nordic Region’s green transition and competitiveness,
As part of this co-operation, the Nordic countries and their industries will enhance their understanding of each other’s value chains and ecosystems and also brand themselves collectively to the rest of the world.
New declaration on a Nordic industrial partnership
To emphasise the importance of working more closely together on business policy in the Nordic Region, maintain resilience and competitiveness and to focus on a faster green transition, the ministers adopted a new declaration on a Nordic industrial partnership. It stresses the priorities that the Nordic countries share and the opportunities for generating Nordic added value.
