It drives interest in battery metals

The politicians want to extract more battery minerals from the Swedish bedrock. But it's something else that governs. It depends a lot on the general business cycle, on commodity prices, on what investors see as opportunities and risks for the state of different industries, says mining inspector Helena Kjellson.

» Published: January 22 2025

It drives interest in battery metals
Photo: Patrick Trägårdh/TT

The new applications for exploration permits for mineral deposits in Sweden decreased last year, according to new statistics. However, at the same time, applications for extended permits increased, so there are a total of 812 ongoing exploration permits – more than in over ten years, according to new statistics from the Swedish Geological Survey (SGU).

The conclusion that can be drawn is that Sweden remains an attractive country to prospect in. There is an upward trend, even if we are still far from the top, says Helena Kjellson, head of the Mining Authority, which is responsible for granting permits for new mines and is part of SGU.

Significant increase

It is still metals such as copper, gold, and silver that most mining companies are looking for. Noble metals dominate. However, the growth rate is clearly highest, albeit from lower levels, among several so-called rare earth metals, minerals needed for the electrification of society. This includes, for example, cobalt, lithium, and molybdenum, according to SGU. These applications have in many cases increased by several hundred percent over four years.

The EU and the Swedish government want more companies to be willing to extract these so-called critical metals, which Europe has a significant shortage of.

We have a bedrock that differs from continental Europe. And what we hear from our applicant companies is that they perceive Sweden as a stable democracy, a safe jurisdiction, says Helena Kjellson.

Other factors that influence

How does this manifest in more people wanting to search for these metals?

People talk a lot about permit processes, that they should go faster. But then you have to remember that it's not the only thing that determines how much prospecting there will be, but it's a global market. It depends a lot on the general business cycle, on commodity prices, on what investors see as opportunities and risks for permits in different industries, says Kjellson.

She does not currently have a list of further regulatory simplifications or similar measures from the government to boost mining.

We have nothing up our sleeve.

The closest in the pipeline for larger-scale mining of rare earth metals are the discoveries in Kiruna and Norra Kärr in the Jönköping area. But they do not yet have a concession, and it will likely take several years before any metals from there see the light of day.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Trump Stands by Tariffs as
1 MIN READ

Trump Stands by Tariffs as Global Markets Face Turbulence

EU Prepares Trade Countermeasures as
3 MIN READ

EU Prepares Trade Countermeasures as US Tariffs Loom

WTO Warns Trump's Tariffs Could
1 MIN READ

WTO Warns Trump's Tariffs Could Cut Global Trade by 1 Percent

Canada Imposes 25-Percent Tariffs on
1 MIN READ

Canada Imposes 25-Percent Tariffs on US Cars in Trade Dispute

Macron Urges EU Firms to
1 MIN READ

Macron Urges EU Firms to Rethink US Investments Over Tariffs

Volvo's Shift to Electric Cars
2 MIN READ

Volvo's Shift to Electric Cars Faces Scrutiny as Diesel Demand Persists

Stellantis Halts Canada and Mexico
1 MIN READ

Stellantis Halts Canada and Mexico Production Over US Tariffs

Fitch Downgrades China's Credit Rating
1 MIN READ

Fitch Downgrades China's Credit Rating Citing Economic Concerns

Wind Farm Cable Approval Granted
2 MIN READ

Wind Farm Cable Approval Granted but Vattenfall Faces Cost Hurdle

US Stocks Dive as Tariff
1 MIN READ

US Stocks Dive as Tariff News Hits Tech Giants Hard

US Tariffs Pose Global Economic
2 MIN READ

US Tariffs Pose Global Economic Challenge, Says Swedish Central Bank Chief

Ikano Bank Faces Police Report
1 MIN READ

Ikano Bank Faces Police Report in Denmark Over Misleading Marketing

EU Trade Chief Sefcovic to
1 MIN READ

EU Trade Chief Sefcovic to Discuss US Tariffs on Friday

Volvo Cars Boosts US Production
3 MIN READ

Volvo Cars Boosts US Production in Response to Trump's Tariffs

US Imposes Tariffs on Remote
1 MIN READ

US Imposes Tariffs on Remote Penguin Islands in Australian Territory

Saab Secures Major Order for
1 MIN READ

Saab Secures Major Order for Combat Vehicle Systems from BAE Systems

Trump Tariffs Threaten to Hike
1 MIN READ

Trump Tariffs Threaten to Hike Coffee Prices in the US

Trump's New Tariffs Spark Global
2 MIN READ

Trump's New Tariffs Spark Global Criticism and Economic Concerns

Kent Concerts Spark Hotel Market
1 MIN READ

Kent Concerts Spark Hotel Market Boost in Stockholm

US Boosts Norwegian Salmon Imports
1 MIN READ

US Boosts Norwegian Salmon Imports Before Tariff Decision

IT Sector Sees Reduced Work
1 MIN READ

IT Sector Sees Reduced Work Hours and Pay Increase in New Agreement

Service Sector Slows as Index
1 MIN READ

Service Sector Slows as Index Drops Below 50 in Sweden

Kristersson Urges Action Over US
2 MIN READ

Kristersson Urges Action Over US Tariffs, Calls for EU-US Trade Talks

Economist Urges Swedish Savers to
2 MIN READ

Economist Urges Swedish Savers to Hold Steady Despite Tariff Impact

Stockholm Stocks Plunge 3.4 Percent
2 MIN READ

Stockholm Stocks Plunge 3.4 Percent After Trump's Tariff News

Stock Market Faces Uncertainty After
2 MIN READ

Stock Market Faces Uncertainty After Trump's Tariff Announcement

Food Prices Stabilize as Supermarkets
3 MIN READ

Food Prices Stabilize as Supermarkets Compete for Shoppers

EU Prepares Countermeasures as US
2 MIN READ

EU Prepares Countermeasures as US Tariffs Threaten Global Economy

Gold Prices Soar to Record
1 MIN READ

Gold Prices Soar to Record Highs Following Trump's Tariff News

Colombia Plans to Acquire Swedish
1 MIN READ

Colombia Plans to Acquire Swedish Gripen Fighter Jets

Tokyo Stocks Drop Sharply Following
1 MIN READ

Tokyo Stocks Drop Sharply Following US Tariff Announcement

Global Leaders Rally Against Trump's
3 MIN READ

Global Leaders Rally Against Trump's Tariffs to Avert Trade War

US Finance Minister Urges Nations:
1 MIN READ

US Finance Minister Urges Nations: Hold Off on Retaliating to Tariffs

Trump's Tariffs Higher Than Expected,
2 MIN READ

Trump's Tariffs Higher Than Expected, Experts Warn of Lingering Uncertainty

Sweden Ready to Tackle Trump's
2 MIN READ

Sweden Ready to Tackle Trump's EU Tariffs, Says PM Kristersson

Trump's Tariffs Spark Global Economic
2 MIN READ

Trump's Tariffs Spark Global Economic Uncertainty, Experts Warn

Trump Announces 20 Percent Tariffs
3 MIN READ

Trump Announces 20 Percent Tariffs on EU Goods

APM Terminals Acquires Key Railway
1 MIN READ

APM Terminals Acquires Key Railway by Panama Canal

Volvo CEO Calls Trump's Tariffs
2 MIN READ

Volvo CEO Calls Trump's Tariffs a Messy Challenge for Swedish Industry

Amazon and AppLovin Eye TikTok's
2 MIN READ

Amazon and AppLovin Eye TikTok's US Operations for Acquisition