Commissioned by Nordic Innovation, the original 2021 report assessed the availability and demand for critical raw materials (CRMs) in the Nordic industrial ecosystem, providing key insights into securing raw materials for the green energy transition. However, since then, Europe has revised its CRM priorities, incorporating a new category of strategic raw materials critical for defense and high-tech sectors. These updates have been formalized in the 2024 Critical Raw Materials Act (CRMA).
“This is an important theme that is relevant for the green shift and the bigger transition that the whole society is going through. The 2021 report was a significant success with a vast spread in industry and amongst other decision makers. We think it is important to take a Nordic approach and create an updated version now. We are grateful for the strong cooperation we have with the Nordic geological survey institutes and other participating organizations”. Highlighted Sindre Stemshaug Bornstein, Managing Director, Nordic Innovation, in his opening speech at the Oslo Summit for Nordic Forum on Raw Materials today.
Recognizing these shifts, the revised version of the report will reassess Nordic primary resource potential, placing greater emphasis on security aspects, including defense technology needs. By aligning Nordic resource data with the latest European developments, the initiative aims to strengthen regional self-sufficiency and resilience in raw material supply.
The study covers Finland, Sweden, Norway, Greenland, Iceland and Denmark. The material that is used in the study is based on separate data sources from each of the Nordic countries.
“GEUS, in collaboration with the Ministry of Business, Trade, Mineral Resources, Justice and Gender Equality at Naalakersuisut, has provided data and knowledge about Greenlandic mineral deposits of critical raw materials for the previous report. The project has played a key role in highlighting the Nordic resource potential for critical raw materials and emphasising Greenland's important role. The report has attracted considerable attention and serves as an important tool for decision-makers and companies seeking to capitalise on the critical minerals opportunities in Greenland and the Nordic region in general. With the rapid development of critical minerals, updating the report is essential to ensure that the information is up-to-date, so we very much look forward to collaborating on the update,” says Jakob Kløve Keiding, Chief Consultant at the Department of Mapping and Mineral Resources, The Geological Survey of Denmark and Greenland (GEUS).
Together with Nordic Innovation, the combined knowledge in the Nordic countries is utilized in the report. The project is led by Geological Survey of Finland (GTK), and the following partner organizations are involved in the project: Geological Survey of Sweden (SGU), Geological Survey of Denmark and Greenland (GEUS), Geological Survey of Norway (NGU), University of Iceland (HI), Iceland GeoSurvey (ÍSOR) and Ministry of Business, Trade, Mineral Resources, Justice, and Gender Equality, Government of Greenland.
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