Sweden extracts the most iron ore in the European Union. In addition, it has known deposits of graphite, cobalt, rare metals, and phosphate minerals.
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Despite abundant mineral resources, Sweden currently receives only 1 percent of global investments in the exploration of base and critical metals, said Energy Minister Ebba Busch.
“Sweden must become a leading mining country,” she said on Thursday, presenting the government’s new national mining strategy.
Busch said Stockholm intends to “simplify permitting procedures so that decisions are made faster.” A new environmental impact assessment authority will be established “so that companies can benefit from a more consistent process,” and it will be examined “how the state can help finance projects that will most help the country achieve self-sufficiency,” she said.
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It would also ensure that a larger share of mining taxes and fees goes to local authorities in whose territory mining is carried out.
Currently, these revenues go to the state treasury.
Several mining projects are currently under consideration in Sweden, but many are stalled due to local opposition and concerns about their environmental impact.
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