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 Geological Survey of Sweden (SGU).
The conclusion that can be drawn is that Sweden is still an attractive country to prospect in. It's an upward trend, even if we're 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's still metals like copper, gold, and silver that most mining companies are looking for. Noble metals dominate. But 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 molybden, 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 large deficit 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 doesn't have a list of further regulatory simplifications or similar measures from the government to get mining going faster.
We don't have that 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 don't have a concession yet, and it will likely take several years before any metals from there see the light of day.
