A growth leap worth billion is underway in Finland.

Mine in Finnish Kittilä. Photo: Creative Commons Lic. Kredit: Kallerna

Finland's mining industry is going through tough cycles now, but the pace will level off in a few years. Both ongoing and pending investments are now perhaps at their largest.

The report published by the Ministry of Labor and Economic Affairs on Tuesday states that the ongoing investments in the mining sector amount to approximately one billion euros.

Minor mine expansion

The largest of them is the expansion of Kemi's chrome mine and ferrochrome factory, for which EUR 420 million will be spent over three years.

An even larger sum of investments, around 1.3 billion, is expected from the implementation of the decision. At the end of this year or during the next year, we might hear about the Kolar Hannukainen iron mine (300 million euros), the expansion of the Kittilä gold mine (300 million euros), the construction of the Taivaljärvi silver mine (30 million euros) and the construction of the Sokli apatite mine (700 million euros).

Lithium mine

In addition, the mine expansion is being prepared in Kevitsa and Talvivaara.

Profitability calculations and technical studies are also done by Gold Fields for the Suhango project, Nordic Mining for the construction of the lithium mine in Kausti, and Polar Mining for the opening of the Kuusamo gold mine.