A recent report highlights the Nordic region’s significant potential to enhance Europe’s supply of critical and strategic raw materials amid rising global demand and geopolitical uncertainties. As competition for these essential resources intensifies worldwide, the interplay between the green and digital transitions, along with evolving geopolitical dynamics, is reshaping both demand and supply systems. In this context, the ability to deliver reliable, scalable, and timely supplies of metals and minerals has become paramount, alongside ensuring resource availability.
The report identifies the Nordic region as a selective yet strong contributor to Europe’s raw material supply chain. Its strengths lie in its strategic role within global value chains, characterised by a selective, complementary, and long-term contribution that supports diversification and resilience rather than merely replacing existing global networks. The analysis underscores the connection between EU and global geopolitical strategies and the strengthening of national and EU supply chains, suggesting a future where mineral value chains are more sustainable and secure.
The Nordic region boasts significant geological potential for various critical raw materials, including lithium, copper, cobalt, graphite, nickel, and rare earth elements. However, the challenge lies not in the existence of these resources but in the ability to develop and coordinate them efficiently and sustainably to mitigate vulnerabilities in European supply chains. The report calls for sustained investment in geological knowledge, coordinated development efforts, and long-term policy support to unlock the full potential of the Nordic region as a key component of a more resilient European raw materials system.
