Foto: Norsk Bergindustri

Norway and Canada contribute to green shift in the mining industry

Norway is rich in minerals, but only a limited amount of resources is exploited today. Norway has raw mineral values worth up to 2 500 billion NOK, and a refined mineral market value of 8 000 billion NOK (study performed by NGU and NHO). To harness these resources, the Norwegian mining sector needs several things that Canada – a vanguard nation in the industry – can provide or facilitate; such as competence, policy adaptation and capital. These topics are all seen through the lens of sustainability, which is at the top of the agendas in both nations.

Canada’s role as a mining hub is highlighted by the fact that 1700 mining companies are listed on the Toronto Stock Exchange, which is almost 2/3 of all public mining companies in the world. One of the important key trends demonstrated in Canada is the industrial focus on sustainability; and this shift is being led by the industry itself.  The market is responding to increasing awareness on the full spectrum of deliveries from sound mineral extraction and labor practices, to processing and producer responsibility for the end products.

Increased need for minerals

Minerals from Norway will play an important role in the shift towards sustainable industries.  Diverse industry and societal trends demonstrate an increasing demand for renewable energy technologies, smartphones, electric cars, batteries, and ICT equipment to mention a few, and this means an increased need for minerals to manufacture these goods.

Norway has undoubtedly a strong advantage, as both environmental and socioeconomic regulations are high; and in fact, the country could be poised in the future to demonstrate leadership to other countries considering mining development.

A record number of Norwegian participants attended the annual Prospectors and Developers Association of Canada (PDAC) conference from March 5-8 2017 in Toronto. PDAC 2017 attracted more than 25,000 people from 125 countries.  Innovation Norway created important meeting points between Canadian investors and partners, and Norwegian mineral industry during the conference. Innovation Norway has a good network within the Canadian mining and mineral industry, and we see that the interest for both Norwegian prospects and our focus and reputation on sustainability makes us relevant partners.

For further information on the opportunities please contact:

Øyvind Enstad Haga
Director, Innovation Norway Canada (Toronto)


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